ExodusPoint Capital Management LP Has $10.34 Million Stock Position in Eaton Co. plc (NYSE:ETN)

ExodusPoint Capital Management LP increased its stake in shares of Eaton Co. plc (NYSE:ETN) by 65.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,165 shares of the industrial products company’s stock after acquiring an additional 12,309 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Eaton were worth $10,343,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ETN. B. Riley Wealth Advisors Inc. raised its position in shares of Eaton by 48.9% during 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 shares of Eaton in the 4th quarter worth approximately $297,000. Webster Bank N. A. grew its holdings in shares of Eaton by 52.4% during the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock worth $5,949,000 after purchasing an additional 6,166 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Eaton by 9.3% during the fourth 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 period. Finally, Blue Trust Inc. raised its stake in shares of Eaton by 13.2% in the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock valued at $4,804,000 after purchasing an additional 1,694 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Down 5.6 %

NYSE ETN opened at $246.36 on Friday. The stock has a market capitalization of $96.52 billion, a P/E ratio of 25.93, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 52 week low of $236.58 and a 52 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 stock has a fifty day moving average of $296.43 and a 200-day moving average of $330.00.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping 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 in the previous year, the company posted $2.55 earnings per share. On average, equities research analysts forecast 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 was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is currently 43.79%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ETN. Citigroup lowered their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Melius Research restated a “hold” rating and set a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Evercore ISI decreased their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Barclays cut their target price on Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research note on Tuesday, January 28th. Eight 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 presently has a consensus rating of “Moderate Buy” and an average price target of $356.68.

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.