AXQ Capital LP Buys Shares of 962 Eaton Co. plc (NYSE:ETN)

AXQ Capital LP purchased a new position in shares of Eaton Co. plc (NYSE:ETN - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 962 shares of the industrial products company's stock, valued at approximately $319,000.

Other large investors have also bought and sold shares of the company. B. Riley Wealth Advisors Inc. increased its stake in shares of Eaton by 48.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company's stock worth $13,533,000 after buying an additional 13,497 shares during the period. Lighthouse Wealth Management Inc. bought a new stake in Eaton in the 4th quarter worth $297,000. Webster Bank N. A. increased its position in shares of Eaton by 52.4% in the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company's stock valued at $5,949,000 after acquiring an additional 6,166 shares during the period. Ballentine Partners LLC raised its stake in shares of Eaton by 9.3% during the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company's stock valued at $3,072,000 after acquiring an additional 790 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Eaton by 13.2% during the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company's stock worth $4,804,000 after purchasing an additional 1,694 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Down 1.6 %

Shares of ETN traded down $4.48 during mid-day trading on Thursday, reaching $281.04. The company had a trading volume of 3,454,716 shares, compared to its average volume of 2,425,974. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. 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 company has a market capitalization of $110.10 billion, a price-to-earnings ratio of 29.58, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The firm has a 50-day moving average price of $308.63 and a 200 day moving average price of $331.57.

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Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping analysts' consensus estimates 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 company earned $2.55 EPS. On average, sell-side analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Eaton's previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.48%. Eaton's payout ratio is 43.79%.

Analyst Ratings Changes

ETN has been the subject of a number of recent analyst reports. 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 research report on Wednesday, February 19th. Melius downgraded Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price for the company. in a report on Tuesday, January 28th. Royal Bank of Canada dropped their price target on Eaton from $405.00 to $376.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Barclays reduced their price objective on shares of Eaton from $325.00 to $315.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Finally, StockNews.com cut shares of Eaton from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $357.16.

Eaton Company 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.