Interchange Capital Partners LLC Decreases Stake in Eaton Co. plc (NYSE:ETN)

Interchange Capital Partners LLC cut its stake in shares of Eaton Co. plc (NYSE:ETN) by 9.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 748 shares of the industrial products company’s stock after selling 74 shares during the quarter. Interchange Capital Partners LLC’s holdings in Eaton were worth $248,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Flagship Wealth Advisors LLC acquired a new position in shares of Eaton in the fourth quarter valued at about $27,000. Noble Wealth Management PBC purchased a new stake in Eaton in the fourth quarter valued at approximately $30,000. Groupama Asset Managment increased its holdings in Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after buying an additional 4,298 shares during the period. Horizon Bancorp Inc. IN lifted its stake in Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares during the period. Finally, Morse Asset Management Inc purchased a new stake in shares of Eaton in the 3rd quarter valued at $33,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ETN has been the subject of a number of research reports. StockNews.com downgraded shares of Eaton from a “buy” rating to a “hold” rating in a research report on Friday. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research note on Tuesday, January 28th. JPMorgan Chase & Co. reduced their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. KeyCorp upgraded Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective on the stock in a research report on Wednesday, March 12th. Finally, Evercore ISI cut their target price on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $357.68.

Eaton Price Performance

Shares of Eaton stock opened at $303.41 on Tuesday. The stock has a market capitalization of $118.87 billion, a P/E ratio of 31.94, a PEG ratio of 2.64 and a beta of 1.09. The business has a 50 day simple moving average of $310.56 and a two-hundred day simple moving average of $331.79. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. 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 posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 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 period in the prior year, the company posted $2.55 earnings per share. As a group, analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is currently 43.79%.

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.