Bearing Point Capital LLC Acquires New Stake in Eaton Co. plc (NYSE:ETN)

Bearing Point Capital LLC acquired a new stake in Eaton Co. plc (NYSE:ETN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,176 shares of the industrial products company's stock, valued at approximately $2,713,000.

Other hedge funds also recently made changes to their positions in the company. Lighthouse Wealth Management Inc. acquired a new stake in Eaton in the fourth quarter valued at approximately $297,000. Webster Bank N. A. grew its position in 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 acquiring an additional 6,166 shares during the last quarter. Ballentine Partners LLC increased its holdings in Eaton by 9.3% in the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company's stock worth $3,072,000 after purchasing an additional 790 shares in the last quarter. Blue Trust Inc. raised its position in 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 during the last quarter. Finally, Dakota Wealth Management grew its holdings in shares of Eaton by 8.8% during the fourth quarter. Dakota Wealth Management now owns 49,436 shares of the industrial products company's stock worth $16,406,000 after purchasing an additional 4,011 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Down 0.0 %

Shares of ETN stock traded down $0.02 on Tuesday, hitting $298.56. The stock had a trading volume of 2,459,928 shares, compared to its average volume of 2,640,117. Eaton Co. plc has a 12-month low of $231.85 and a 12-month high of $379.99. The stock has a market cap of $116.97 billion, a price-to-earnings ratio of 31.43, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14. The business has a 50 day moving average of $281.41 and a 200 day moving average of $320.94. 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 - Get Free Report) last posted its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.70 by $0.02. The firm had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.40 EPS. As a group, analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Monday, May 5th. Eaton's payout ratio is 41.98%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Evercore ISI cut their target price on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 19th. StockNews.com raised shares of Eaton from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Melius downgraded Eaton from a "buy" rating to a "hold" rating and set a $373.00 price objective for the company. in a report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price objective on Eaton from $289.00 to $300.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Barclays reduced their price objective on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a research note on Friday, April 4th. Five 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 a consensus price target of $361.13.

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.