Perbak Capital Partners LLP Makes New Investment in Eaton Co. plc (NYSE:ETN)

Perbak Capital Partners LLP bought a new stake in Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,139 shares of the industrial products company’s stock, valued at approximately $710,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Eaton by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company’s stock worth $12,351,506,000 after purchasing an additional 99,291 shares during the period. FMR LLC lifted its holdings in shares of Eaton by 1.2% during the fourth quarter. FMR LLC now owns 15,222,248 shares of the industrial products company’s stock valued at $5,051,807,000 after purchasing an additional 182,455 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Eaton by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company’s stock valued at $2,714,677,000 after purchasing an additional 129,071 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Eaton by 8.8% during the fourth quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company’s stock valued at $1,518,207,000 after purchasing an additional 368,241 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Eaton during the fourth quarter valued at $1,495,582,000. Institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

NYSE:ETN opened at $287.86 on Tuesday. The firm has a market cap of $112.77 billion, a price-to-earnings ratio of 30.30, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average is $281.12 and its two-hundred day moving average is $322.74. Eaton Co. plc has a 12-month low of $231.85 and a 12-month high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping the consensus estimate 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 last year, the company posted $2.55 EPS. Research analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Monday, May 5th. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ETN. Royal Bank of Canada decreased their price objective on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Evercore ISI cut their target price on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Melius Research reaffirmed a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Jefferies Financial Group dropped their target price on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Finally, Wells Fargo & Company decreased their price objective on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $350.22.

About Eaton

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.