AXQ Capital LP Invests $319,000 in Eaton Co. plc (NYSE:ETN)

AXQ Capital LP bought a new position in Eaton Co. plc (NYSE:ETN) in the fourth quarter, HoldingsChannel.com reports. The fund bought 962 shares of the industrial products company’s stock, valued at approximately $319,000.

A number of other hedge funds have also modified their holdings of the stock. Marietta Investment Partners LLC raised its holdings in shares of Eaton by 10.0% in the 4th quarter. Marietta Investment Partners LLC now owns 27,491 shares of the industrial products company’s stock worth $9,123,000 after buying an additional 2,503 shares in the last quarter. Umpqua Bank grew its position in Eaton by 2.2% during the 4th quarter. Umpqua Bank now owns 2,191 shares of the industrial products company’s stock worth $745,000 after acquiring an additional 48 shares during the last quarter. Sei Investments Co. grew its position in Eaton by 4.8% during the 4th quarter. Sei Investments Co. now owns 604,449 shares of the industrial products company’s stock worth $200,598,000 after acquiring an additional 27,423 shares during the last quarter. Vestor Capital LLC grew its position in Eaton by 0.6% during the 4th quarter. Vestor Capital LLC now owns 12,502 shares of the industrial products company’s stock worth $4,149,000 after acquiring an additional 76 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new stake in Eaton during the 4th quarter worth approximately $78,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Up 0.1 %

Shares of Eaton stock opened at $295.88 on Monday. The business has a fifty day simple moving average of $311.30 and a 200 day simple moving average 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 PE 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 earnings results 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 last year, the firm earned $2.55 EPS. Research 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 issued a dividend of $1.04 per share. The ex-dividend date is Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.41%. Eaton’s payout ratio is currently 43.79%.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of research analyst reports. Barclays decreased their price target on Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Royal Bank of Canada decreased their price target on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. JPMorgan Chase & Co. decreased their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Citigroup lowered their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.