Eaton Co. plc (NYSE:ETN) Shares Acquired by Two Point Capital Management Inc.

Two Point Capital Management Inc. grew its position in Eaton Co. plc (NYSE:ETN) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,865 shares of the industrial products company’s stock after acquiring an additional 450 shares during the quarter. Eaton comprises approximately 4.8% of Two Point Capital Management Inc.’s portfolio, making the stock its 7th biggest position. Two Point Capital Management Inc.’s holdings in Eaton were worth $10,564,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ETN. Tennessee Valley Asset Management Partners acquired a new position in shares of Eaton in the 4th quarter valued at about $25,000. Valued Wealth Advisors LLC purchased a new stake in shares of Eaton during the 4th quarter valued at about $35,000. Chilton Capital Management LLC purchased a new stake in shares of Eaton during the 4th quarter valued at about $35,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of Eaton during the 3rd quarter valued at about $39,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Eaton during the 4th quarter valued at about $46,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Price Performance

Shares of ETN traded up $6.94 during mid-day trading on Friday, reaching $324.04. The company had a trading volume of 1,520,199 shares, compared to its average volume of 1,946,449. Eaton Co. plc has a twelve month low of $162.04 and a twelve month high of $331.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. The company’s 50-day moving average is $303.89 and its 200-day moving average is $257.51. The company has a market capitalization of $129.45 billion, a P/E ratio of 39.54, a P/E/G ratio of 2.64 and a beta of 1.07.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. Eaton’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.06 EPS. On average, equities analysts anticipate that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s payout ratio is currently 46.88%.

Insider Transactions at Eaton

In other Eaton news, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the completion of the transaction, the insider now directly owns 5,514 shares in the company, valued at $1,593,380.58. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Peter Denk sold 1,731 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total transaction of $500,207.07. Following the completion of the sale, the insider now owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the transaction, the insider now owns 630 shares of the company’s stock, valued at $171,360. The disclosure for this sale can be found here. Insiders sold a total of 38,969 shares of company stock worth $10,904,774 over the last quarter. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on ETN. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $250.00 to $300.00 in a report on Tuesday, April 2nd. Bank of America lifted their price objective on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. UBS Group boosted their price target on Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a report on Friday, February 2nd. The Goldman Sachs Group boosted their price target on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, Citigroup boosted their price objective on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and a consensus target price of $295.60.

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.