Quent Long Short Global Small Cap Fund LP Invests $564,000 in Eaton Corporation, PLC $ETN

Quent Long Short Global Small Cap Fund LP purchased a new stake in shares of Eaton Corporation, PLC (NYSE:ETN) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,772 shares of the industrial products company’s stock, valued at approximately $564,000.

Several other large investors also recently bought and sold shares of the business. Eagle Bay Advisors LLC bought a new position in Eaton during the 4th quarter valued at about $29,000. WFA of San Diego LLC bought a new stake in shares of Eaton in the second quarter worth approximately $36,000. Imprint Wealth LLC purchased a new position in shares of Eaton during the third quarter valued at approximately $39,000. Redmont Wealth Advisors LLC bought a new position in Eaton during the third quarter valued at approximately $40,000. Finally, Grey Fox Wealth Advisors LLC purchased a new stake in Eaton in the third quarter worth approximately $70,000. 82.97% of the stock is currently owned by institutional investors.

Insider Activity at Eaton

In other news, insider Sternadt Paulo Ruiz sold 10,707 shares of the firm’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $390.26, for a total value of $4,178,513.82. Following the transaction, the insider owned 27,729 shares of the company’s stock, valued at $10,821,519.54. This trade represents a 27.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.10% of the stock is owned by company insiders.

Analyst Ratings Changes

ETN has been the subject of a number of research analyst reports. Jefferies Financial Group began coverage on shares of Eaton in a research report on Monday, March 16th. They issued a “buy” rating and a $430.00 target price for the company. Royal Bank Of Canada restated an “outperform” rating and issued a $407.00 price target on shares of Eaton in a research note on Wednesday, February 4th. Barclays cut their price objective on Eaton from $354.00 to $340.00 and set an “equal weight” rating for the company in a report on Wednesday, April 1st. Wells Fargo & Company lowered their target price on Eaton from $370.00 to $350.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 1st. Finally, Citigroup raised their target price on Eaton from $435.00 to $464.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $396.50.

Eaton Stock Down 0.1%

ETN opened at $424.02 on Friday. The firm’s 50 day simple moving average is $375.09 and its two-hundred day simple moving average is $359.00. The company has a market capitalization of $164.51 billion, a PE ratio of 40.54, a PEG ratio of 2.92 and a beta of 1.17. Eaton Corporation, PLC has a 1-year low of $283.00 and a 1-year high of $432.34. The company has a current ratio of 1.32, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, February 26th. The industrial products company reported $3.23 EPS for the quarter. Eaton had a return on equity of 25.00% and a net margin of 14.89%.The firm had revenue of $7.06 billion during the quarter. As a group, equities analysts forecast that Eaton Corporation, PLC will post 13.31 EPS for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 8th will be given a $1.10 dividend. The ex-dividend date is Friday, May 8th. This represents a $4.40 dividend on an annualized basis and a yield of 1.0%. Eaton’s dividend payout ratio is presently 42.07%.

Eaton Company Profile

Eaton (NYSE: ETN) is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company’s offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.

Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.