Perbak Capital Partners LLP Takes Position in Eaton Co. plc (NYSE:ETN)

Perbak Capital Partners LLP bought a new stake in Eaton Co. plc (NYSE:ETN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,139 shares of the industrial products company's stock, valued at approximately $710,000.

Several other hedge funds have also modified their holdings of ETN. Morse Asset Management Inc purchased a new position in shares of Eaton in the third quarter valued at $33,000. Bard Financial Services Inc. acquired a new position in Eaton in the 3rd quarter worth $255,000. Advisory Resource Group boosted its position in Eaton by 10.9% in the 3rd quarter. Advisory Resource Group now owns 4,358 shares of the industrial products company's stock valued at $1,444,000 after buying an additional 428 shares during the last quarter. Chelsea Counsel Co. grew its stake in shares of Eaton by 29.4% during the third quarter. Chelsea Counsel Co. now owns 220 shares of the industrial products company's stock valued at $73,000 after acquiring an additional 50 shares in the last quarter. Finally, Tudor Financial Inc. purchased a new stake in shares of Eaton during the third quarter worth about $265,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ETN has been the subject of a number of recent analyst reports. Barclays lowered their price objective on Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a research note on Friday, April 4th. Melius downgraded shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target for the company. in a research report on Tuesday, January 28th. Royal Bank of Canada decreased their price objective on shares of Eaton from $405.00 to $376.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. 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 note on Wednesday, February 19th. Finally, KeyCorp decreased their price target on Eaton from $340.00 to $325.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $350.24.

Eaton Stock Performance

Shares of NYSE:ETN traded down $2.08 on Friday, hitting $299.58. 5,931,677 shares of the company were exchanged, compared to its average volume of 2,632,727. The firm has a market capitalization of $117.37 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 2.64 and a beta of 1.09. 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 one year low of $231.85 and a one year high of $379.99. The company's 50 day moving average price is $281.21 and its two-hundred day moving average price is $321.76.

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

Eaton Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.39%. Eaton's dividend payout ratio (DPR) is currently 43.79%.

About Eaton

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.