Capital Square LLC Makes New Investment in Eaton Co. plc (NYSE:ETN)

Capital Square LLC acquired a new stake in Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,686 shares of the industrial products company’s stock, valued at approximately $1,555,000.

A number of other hedge funds have also recently made changes to their positions in the business. Flagship Wealth Advisors LLC bought a new position in Eaton in the 4th quarter worth approximately $27,000. Noble Wealth Management PBC purchased a new position in shares of Eaton in the fourth quarter worth $30,000. Horizon Bancorp Inc. IN boosted its position in shares of Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 74 shares during the last quarter. Morse Asset Management Inc purchased a new position in Eaton during the third quarter valued at $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in Eaton in the 4th quarter valued at $33,000. Institutional investors own 82.97% of the company’s stock.

Eaton Trading Down 2.8 %

Shares of NYSE ETN opened at $269.42 on Thursday. The business’s 50 day moving average price is $286.96 and its 200-day moving average price is $326.08. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two 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 cap of $105.55 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 last year, the business earned $2.55 EPS. On average, sell-side analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given a dividend of $1.04 per share. The ex-dividend date was Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.54%. Eaton’s dividend payout ratio (DPR) is 43.79%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ETN. Barclays cut their price objective on Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a research report on Friday, April 4th. Wells Fargo & Company cut their price target on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research report on Tuesday, January 28th. Melius Research reissued a “hold” rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Finally, Royal Bank of Canada decreased their price target on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $350.22.

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.