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

Two Point Capital Management Inc. raised its stake in Eaton Co. plc (NYSE:ETN) by 0.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 43,930 shares of the industrial products company’s stock after buying an additional 245 shares during the period. Eaton makes up 5.3% of Two Point Capital Management Inc.’s investment portfolio, making the stock its 7th biggest position. Two Point Capital Management Inc.’s holdings in Eaton were worth $14,560,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ETN. Geneos Wealth Management Inc. boosted its position in Eaton by 10.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,862 shares of the industrial products company’s stock worth $582,000 after buying an additional 172 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in shares of Eaton by 19.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock worth $24,616,000 after purchasing an additional 12,689 shares during the last quarter. Stokes Family Office LLC increased its holdings in Eaton by 26.9% in the first quarter. Stokes Family Office LLC now owns 9,782 shares of the industrial products company’s stock valued at $3,059,000 after purchasing an additional 2,074 shares during the period. Motive Wealth Advisors bought a new position in Eaton during the 1st quarter worth $212,000. Finally, Empowered Funds LLC grew its position in shares of Eaton by 302.4% in the 1st quarter. Empowered Funds LLC now owns 23,273 shares of the industrial products company’s stock valued at $7,277,000 after buying an additional 17,490 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Price Performance

ETN opened at $359.26 on Thursday. The firm’s fifty day moving average price is $325.92 and its two-hundred day moving average price is $319.05. The company has a market capitalization of $141.98 billion, a price-to-earnings ratio of 38.22, a P/E/G 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. Eaton Co. plc has a 1 year low of $214.03 and a 1 year high of $366.08.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the firm posted $2.47 EPS. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, analysts anticipate that Eaton Co. plc will post 10.78 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders 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 dividend yield of 1.05%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio is presently 40.00%.

Wall Street Analyst Weigh In

ETN has been the subject of a number of recent analyst reports. Morgan Stanley began coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price for the company. Raymond James lowered their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Mizuho increased their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Evercore ISI dropped their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Finally, Wells Fargo & Company lifted their target price on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $343.28.

Insider Transactions at Eaton

In other Eaton news, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Eaton news, Director Dorothy C. Thompson acquired 2,205 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average cost of $300.30 per share, with a total value of $662,161.50. Following the acquisition, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now owns 51,422 shares in the company, valued at approximately $17,241,796.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,511 shares of company stock worth $17,150,526 in the last ninety days. Company insiders own 0.53% 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.