Landing Point Financial Group LLC Takes $342,000 Position in Eaton Co. plc (NYSE:ETN)

Landing Point Financial Group LLC acquired a new stake in Eaton Co. plc (NYSE:ETN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,104 shares of the industrial products company's stock, valued at approximately $342,000.

Other institutional investors have also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. lifted its position 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 valued at $13,533,000 after buying an additional 13,497 shares during the last quarter. Lighthouse Wealth Management Inc. bought a new stake in Eaton during the fourth quarter worth $297,000. Webster Bank N. A. boosted its stake in 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 buying an additional 6,166 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of Eaton by 9.3% during the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company's stock valued at $3,072,000 after purchasing an additional 790 shares during the last quarter. Finally, Blue Trust Inc. increased 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 buying an additional 1,694 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. KeyCorp reduced their price objective on shares of Eaton from $340.00 to $325.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Melius lowered Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price on the stock. in a research report on Tuesday, January 28th. Wells Fargo & Company dropped their target price on Eaton from $335.00 to $305.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 5th. Jefferies Financial Group cut their price target on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. reduced their price objective on Eaton from $350.00 to $289.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $350.22.

Eaton Price Performance

NYSE:ETN traded up $8.81 during trading hours on Wednesday, hitting $275.72. The stock had a trading volume of 3,148,784 shares, compared to its average volume of 2,633,159. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The firm has a market capitalization of $108.02 billion, a price-to-earnings ratio of 29.02, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a 50 day simple moving average of $283.13 and a two-hundred day simple moving average of $324.29.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter last year, the firm earned $2.55 earnings per share. Research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Monday, May 5th. Eaton's dividend payout ratio (DPR) is presently 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.