Crestline Management LP Increases Stake in Eaton Co. plc (NYSE:ETN)

Crestline Management LP increased its stake in Eaton Co. plc (NYSE:ETN) by 2,502.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,200 shares of the industrial products company’s stock after acquiring an additional 55,002 shares during the period. Eaton makes up about 0.6% of Crestline Management LP’s holdings, making the stock its 21st largest holding. Crestline Management LP’s holdings in Eaton were worth $18,983,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Capital Advantage Inc. acquired a new stake in Eaton during the 4th quarter worth $1,096,000. Cetera Investment Advisers grew its position in shares of Eaton by 0.5% during the fourth quarter. Cetera Investment Advisers now owns 144,036 shares of the industrial products company’s stock worth $47,801,000 after acquiring an additional 695 shares during the last quarter. Captrust Financial Advisors raised its position in Eaton by 2.8% in the 4th quarter. Captrust Financial Advisors now owns 55,503 shares of the industrial products company’s stock valued at $18,420,000 after purchasing an additional 1,537 shares during the last quarter. Cary Street Partners Financial LLC acquired a new stake in Eaton during the 4th quarter worth $3,436,000. Finally, Castlekeep Investment Advisors LLC purchased a new stake in shares of Eaton in the fourth quarter valued at about $3,965,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Evercore ISI dropped their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. KeyCorp increased their price target on shares of Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Monday. Barclays dropped their price target on Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a research report on Friday, April 4th. Melius Research restated a “hold” rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Eaton from $350.00 to $289.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $357.31.

Eaton Trading Down 0.2 %

NYSE:ETN opened at $299.07 on Tuesday. Eaton Co. plc has a 12-month low of $231.85 and a 12-month high of $379.99. The firm has a market capitalization of $117.17 billion, a P/E ratio of 31.48, a P/E/G ratio of 2.64 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The business has a 50 day simple moving average of $281.24 and a 200 day simple moving average of $321.09.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.02. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.40 EPS. Equities research analysts predict 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 issued a $1.04 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.39%. Eaton’s payout ratio is currently 41.98%.

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.