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

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

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ETN shares. Wells Fargo & Company dropped their target price on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Melius Research reissued a “hold” rating and issued a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. JPMorgan Chase & Co. reduced 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. Evercore ISI lowered 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. Finally, Citigroup reduced their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Eaton has an average rating of “Moderate Buy” and an average price target of $356.68.

Eaton Stock Performance

Shares of NYSE ETN opened at $246.36 on Monday. Eaton Co. plc has a 12-month low of $222.60 and a 12-month high of $379.99. The company has a market cap of $96.52 billion, a PE ratio of 25.93, a P/E/G ratio of 2.64 and a beta of 1.09. The stock has a 50 day simple moving average of $296.43 and a 200-day simple moving average of $330.24. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping 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 in the previous year, the business earned $2.55 earnings per share. On average, equities research analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders 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. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, March 10th. Eaton’s dividend payout ratio is currently 43.79%.

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.