Lighthouse Investment Partners LLC Buys 10,715 Shares of Eaton Co. plc (NYSE:ETN)

Lighthouse Investment Partners LLC raised its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 468.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,000 shares of the industrial products company's stock after acquiring an additional 10,715 shares during the quarter. Lighthouse Investment Partners LLC's holdings in Eaton were worth $4,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new stake in shares of Eaton in the fourth quarter worth about $27,000. Noble Wealth Management PBC bought a new position in Eaton in the 4th quarter valued at $30,000. Horizon Bancorp Inc. IN grew its position in shares of Eaton by 321.7% during the 4th 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. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Eaton in the fourth quarter worth $33,000. Finally, Activest Wealth Management boosted its stake in Eaton by 621.4% during the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock valued at $34,000 after buying an additional 87 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Eaton Trading Up 0.8%

Shares of NYSE ETN traded up $2.58 during trading hours on Friday, hitting $329.40. The company's stock had a trading volume of 1,997,137 shares, compared to its average volume of 2,658,565. The business has a 50-day simple moving average of $286.47 and a 200-day simple moving average of $319.82. The stock has a market cap of $128.89 billion, a price-to-earnings ratio of 34.67, a P/E/G ratio of 2.64 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.02. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The firm had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same period in the previous year, the firm earned $2.40 earnings per share. The business's revenue was up 7.3% compared to the same quarter last year. On average, analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, May 5th. Eaton's dividend payout ratio is currently 41.98%.

Wall Street Analyst Weigh In

ETN has been the topic of several recent analyst reports. BNP Paribas initiated coverage on Eaton in a report on Thursday. They issued an "outperform" rating and a $380.00 price target on the stock. Melius Research reissued a "hold" rating and issued a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Melius cut shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 price objective on the stock. in a research report on Tuesday, January 28th. KeyCorp increased their target price on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, Evercore ISI cut their price objective on Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $366.56.

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 103,486 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the transaction, the insider now owns 490,208 shares in the company, valued at approximately $158,214,632. This represents a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider now owns 3,382 shares in the company, valued at $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock valued at $49,622,894 over the last three months. Corporate insiders own 0.30% of the company's stock.

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.