Opulen Financial Group LLC Invests $215,000 in Eaton Co. plc (NYSE:ETN)

Opulen Financial Group LLC purchased a new position in shares of Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 649 shares of the industrial products company’s stock, valued at approximately $215,000.

Other hedge funds have also recently modified their holdings of the company. Noble Wealth Management PBC acquired a new position in shares of Eaton during the 4th quarter worth about $30,000. Horizon Bancorp Inc. IN raised its position in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc acquired a new position in shares of Eaton during the 3rd quarter worth about $33,000. Activest Wealth Management raised its holdings in Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 87 shares during the last quarter. Finally, Hager Investment Management Services LLC acquired a new stake in Eaton in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

NYSE:ETN opened at $287.85 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a market capitalization of $112.84 billion, a P/E ratio of 30.30, a PEG ratio of 2.64 and a beta of 1.09. The company has a 50 day moving average price of $323.38 and a 200 day moving average price of $332.18. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99.

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

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.45%. The ex-dividend date is Monday, March 10th. This is a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is currently 43.79%.

Insider Buying and Selling at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the transaction, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.53% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ETN has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating on shares of Eaton in a report on Thursday, February 13th. Melius Research reiterated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Bank of America increased their price objective on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Citigroup cut their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $363.15.

Eaton 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.