Impact Capital Partners LLC Purchases Shares of 1,755 Eaton Co. plc (NYSE:ETN)

Impact Capital Partners LLC purchased a new position in Eaton Co. plc (NYSE:ETN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,755 shares of the industrial products company’s stock, valued at approximately $582,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ETN. United Bank purchased a new stake in Eaton in the third quarter worth about $258,000. GSA Capital Partners LLP bought a new position in shares of Eaton in the third quarter worth about $295,000. MQS Management LLC bought a new position in shares of Eaton in the third quarter worth about $474,000. Cable Hill Partners LLC bought a new position in shares of Eaton in the third quarter worth about $211,000. Finally, Plato Investment Management Ltd boosted its stake in shares of Eaton by 21.4% in the third quarter. Plato Investment Management Ltd now owns 14,010 shares of the industrial products company’s stock worth $4,639,000 after acquiring an additional 2,466 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Down 3.0 %

Shares of NYSE:ETN opened at $283.16 on Friday. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The business has a 50 day simple moving average of $317.27 and a two-hundred day simple moving average of $331.31. The firm has a market capitalization of $111.00 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. 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 (NYSE:ETN) 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 return on equity of 22.62% and a net margin of 15.25%. During the same quarter last year, the firm earned $2.55 earnings per share. On average, equities analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is 43.79%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ETN. KeyCorp raised Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective for the company in a research note on Wednesday. Citigroup decreased their target price on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Jefferies Financial Group decreased their target price on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday. Evercore ISI decreased their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Finally, Melius Research reiterated a “hold” rating and issued a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $356.20.

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.