Eaton Co. plc (NYSE:ETN) Shares Acquired by Waterloo Capital L.P.

Waterloo Capital L.P. increased its position in shares of Eaton Co. plc (NYSE:ETN) by 97.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,700 shares of the industrial products company’s stock after purchasing an additional 1,823 shares during the quarter. Waterloo Capital L.P.’s holdings in Eaton were worth $1,228,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of ETN. United Bank purchased a new stake in shares of Eaton in the 3rd quarter worth about $258,000. Morse Asset Management Inc acquired a new position in Eaton during the third quarter worth about $33,000. Worldquant Millennium Advisors LLC lifted its holdings in shares of Eaton by 19.0% in the third quarter. Worldquant Millennium Advisors LLC now owns 7,263 shares of the industrial products company’s stock valued at $2,407,000 after purchasing an additional 1,158 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Eaton by 74.6% in the third quarter. Wellington Management Group LLP now owns 28,057 shares of the industrial products company’s stock valued at $9,299,000 after purchasing an additional 11,992 shares during the last quarter. Finally, EP Wealth Advisors LLC increased its stake in shares of Eaton by 52.0% during the 3rd quarter. EP Wealth Advisors LLC now owns 30,080 shares of the industrial products company’s stock worth $9,970,000 after purchasing an additional 10,295 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Stock Performance

NYSE ETN opened at $246.36 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a 1-year low of $222.60 and a 1-year high of $379.99. The firm has a market capitalization of $96.52 billion, a P/E ratio of 25.93, a P/E/G ratio of 2.64 and a beta of 1.09. The business’s 50-day simple moving average is $296.43 and its 200-day simple moving average is $330.24.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the previous year, the business earned $2.55 EPS. Equities analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were given a $1.04 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.69%. Eaton’s dividend payout ratio (DPR) is 43.79%.

Analysts Set New Price Targets

A number of equities research analysts have commented on ETN shares. JPMorgan Chase & Co. lowered their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Jefferies Financial Group decreased their price objective on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. KeyCorp upgraded shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 target price on the stock in a report on Wednesday, March 12th. Wells Fargo & Company lowered their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. Finally, Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research report on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $356.68.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.