Trexquant Investment LP Buys Shares of 25,156 Eaton Co. plc (NYSE:ETN)

Trexquant Investment LP acquired a new stake in Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 25,156 shares of the industrial products company’s stock, valued at approximately $8,349,000.

Other hedge funds have also modified their holdings of the company. Flagship Wealth Advisors LLC purchased a new position in Eaton during the fourth quarter worth approximately $27,000. Noble Wealth Management PBC acquired a new position in Eaton in the fourth quarter valued at approximately $30,000. Horizon Bancorp Inc. IN lifted its stake in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc acquired a new position in Eaton in the third quarter valued at about $33,000. Finally, Murphy & Mullick Capital Management Corp purchased a new position in shares of Eaton during the 4th quarter worth approximately $33,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Trading Down 8.1 %

Shares of ETN stock opened at $260.74 on Friday. 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 firm’s fifty day simple moving average is $298.88 and its 200 day simple moving average is $330.42. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The firm has a market capitalization of $102.15 billion, a P/E ratio of 27.45, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the company posted $2.55 EPS. As a group, sell-side analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were paid a $1.04 dividend. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date was Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.60%. Eaton’s dividend payout ratio is presently 43.79%.

Analyst Ratings Changes

ETN has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Evercore ISI decreased their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Melius Research restated a “hold” rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Jefferies Financial Group dropped their price target on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Finally, Wells Fargo & Company reduced their target price 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. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $357.16.

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.