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

Two Point Capital Management Inc. lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,865 shares of the industrial products company’s stock after buying an additional 450 shares during the period. Eaton comprises about 4.8% of Two Point Capital Management Inc.’s portfolio, making the stock its 7th biggest holding. Two Point Capital Management Inc.’s holdings in Eaton were worth $10,564,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in Eaton by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 36,336,041 shares of the industrial products company’s stock worth $7,749,751,000 after acquiring an additional 176,900 shares during the last quarter. FMR LLC boosted its holdings in Eaton by 36.0% in the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock worth $4,248,960,000 after acquiring an additional 5,270,331 shares in the last quarter. Northern Trust Corp boosted its holdings in Eaton by 2.2% in the third quarter. Northern Trust Corp now owns 5,009,435 shares of the industrial products company’s stock worth $1,068,412,000 after acquiring an additional 109,775 shares in the last quarter. Raymond James & Associates boosted its holdings in Eaton by 3.8% in the fourth quarter. Raymond James & Associates now owns 3,739,725 shares of the industrial products company’s stock worth $900,600,000 after acquiring an additional 138,465 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in Eaton by 97.5% in the third quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock worth $396,767,000 after acquiring an additional 918,422 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Up 2.2 %

Shares of ETN traded up $6.94 during trading hours on Friday, hitting $324.04. The company had a trading volume of 1,520,199 shares, compared to its average volume of 1,946,449. The firm has a market cap 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. The stock’s 50 day moving average price is $303.89 and its 200 day moving average price is $257.51. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. Eaton Co. plc has a 52-week low of $162.04 and a 52-week high of $331.47.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The company had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the previous year, the business earned $2.06 EPS. Eaton’s revenue was up 10.8% compared to the same quarter last year. On average, research analysts predict 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. The ex-dividend date is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 1.16%. Eaton’s dividend payout ratio is presently 46.88%.

Insider Activity at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the transaction, the insider now owns 29,712 shares in the company, valued at approximately $8,116,427.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the transaction, the insider now owns 29,712 shares in the company, valued at approximately $8,116,427.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the transaction, the insider now owns 69,472 shares in the company, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. Insiders have sold a total of 38,969 shares of company stock worth $10,904,774 in the last 90 days. Company insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ETN. Berenberg Bank increased their price target on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Citigroup raised their target price on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a report on Friday, February 2nd. The Goldman Sachs Group raised their target price on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a report on Friday, March 15th. Wolfe Research restated an “underperform” rating and issued a $312.00 target price on shares of Eaton in a report on Monday, April 8th. Finally, Evercore ISI increased their price target on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $295.60.

About Eaton

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.