AXQ Capital LP Purchases New Stake in Eaton Co. plc (NYSE:ETN)

AXQ Capital LP purchased a new stake in shares of Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 962 shares of the industrial products company’s stock, valued at approximately $319,000.

Other large investors have also recently bought and sold shares of the company. Flagship Wealth Advisors LLC purchased a new position in Eaton in the fourth quarter valued at about $27,000. Noble Wealth Management PBC purchased a new position in Eaton in the fourth quarter valued at about $30,000. Horizon Bancorp Inc. IN grew its stake in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc purchased a new position in Eaton in the third quarter valued at about $33,000. Finally, Activest Wealth Management grew its stake in Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 87 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Up 0.1 %

Eaton stock opened at $295.88 on Monday. The business has a 50 day moving average price of $311.30 and a two-hundred day moving average price of $331.67. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The stock has a market cap of $115.92 billion, a price-to-earnings ratio of 31.14, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings results 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 previous year, the business posted $2.55 earnings per share. As a group, equities analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company also recently declared 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. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.41%. Eaton’s dividend payout ratio is 43.79%.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of recent research reports. Evercore ISI lowered their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Melius Research restated a “hold” rating and issued a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Royal Bank of Canada decreased 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. JPMorgan Chase & Co. decreased their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Finally, Citigroup decreased their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $357.68.

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.