Quarry LP Buys 1,437 Shares of Eaton Co. plc (NYSE:ETN)

Quarry LP grew its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 1,330.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,545 shares of the industrial products company's stock after buying an additional 1,437 shares during the quarter. Quarry LP's holdings in Eaton were worth $513,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Flagship Wealth Advisors LLC bought a new stake in Eaton during the 4th quarter valued at $27,000. Noble Wealth Management PBC bought a new stake in Eaton during the 4th quarter valued at $30,000. Horizon Bancorp Inc. IN raised its holdings in 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 acquiring an additional 74 shares during the period. Morse Asset Management Inc bought a new stake in Eaton during the 3rd quarter valued at $33,000. Finally, Murphy & Mullick Capital Management Corp purchased a new position in shares of Eaton during the 4th quarter valued at $33,000. Institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on ETN shares. Barclays reduced their price target on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a research report on Friday, April 4th. JPMorgan Chase & Co. cut their target price on shares of Eaton from $350.00 to $289.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. StockNews.com raised Eaton from a "hold" rating to a "buy" rating in a research note on Wednesday. KeyCorp reduced their price target on Eaton from $340.00 to $325.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company reduced their price target on Eaton from $335.00 to $305.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $350.22.

Eaton Stock Up 1.3 %

Shares of NYSE ETN traded up $3.90 during mid-day trading on Wednesday, hitting $294.59. 2,539,494 shares of the stock traded hands, compared to its average volume of 2,615,814. The stock has a fifty day moving average price of $280.76 and a 200-day moving average price of $322.52. The company has a market cap of $115.41 billion, a price-to-earnings ratio of 31.01, a PEG ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 52 week low of $231.85 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.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business earned $2.55 earnings per share. Research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Announces Dividend

The firm 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 $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Monday, May 5th. Eaton's dividend payout ratio 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.