Two Point Capital Management Inc. Has $14.56 Million Holdings in Eaton Co. plc (NYSE:ETN)

Two Point Capital Management Inc. lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 0.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 43,930 shares of the industrial products company’s stock after purchasing an additional 245 shares during the period. Eaton accounts for about 5.3% of Two Point Capital Management Inc.’s portfolio, making the stock its 7th largest position. Two Point Capital Management Inc.’s holdings in Eaton were worth $14,560,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Centennial Wealth Advisory LLC grew its holdings in Eaton by 19.6% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 988 shares of the industrial products company’s stock worth $327,000 after acquiring an additional 162 shares during the last quarter. Harvest Portfolios Group Inc. grew its stake in shares of Eaton by 14.9% during the third quarter. Harvest Portfolios Group Inc. now owns 3,293 shares of the industrial products company’s stock valued at $1,091,000 after purchasing an additional 428 shares during the last quarter. Callahan Advisors LLC increased its holdings in shares of Eaton by 2.1% in the third quarter. Callahan Advisors LLC now owns 18,908 shares of the industrial products company’s stock valued at $6,267,000 after purchasing an additional 397 shares in the last quarter. Marks Group Wealth Management Inc raised its position in Eaton by 11.4% in the 3rd quarter. Marks Group Wealth Management Inc now owns 29,914 shares of the industrial products company’s stock worth $9,915,000 after purchasing an additional 3,070 shares during the last quarter. Finally, Tobias Financial Advisors Inc. acquired a new position in Eaton during the 3rd quarter worth $207,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ETN shares. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Evercore ISI dropped their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Citigroup initiated coverage on shares of Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Morgan Stanley initiated coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $343.28.

Eaton Price Performance

Shares of ETN opened at $359.26 on Thursday. The firm has a market capitalization of $141.98 billion, a PE ratio of 38.22, a PEG ratio of 2.55 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The company’s 50-day moving average is $325.92 and its 200-day moving average is $319.05. Eaton Co. plc has a fifty-two week low of $214.03 and a fifty-two week high of $366.08.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the prior year, the firm earned $2.47 EPS. The business’s revenue was up 7.9% on a year-over-year basis. Equities analysts forecast that Eaton Co. plc will post 10.78 EPS for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s payout ratio is 40.00%.

Insider Transactions at Eaton

In related news, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now directly owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,511 shares of company stock valued at $17,150,526. 0.53% of the stock is currently owned by corporate insiders.

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.