Scissortail Wealth Management LLC grew its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 4,049.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,101 shares of the industrial products company's stock after acquiring an additional 15,713 shares during the period. Eaton accounts for approximately 1.4% of Scissortail Wealth Management LLC's investment portfolio, making the stock its 24th biggest holding. Scissortail Wealth Management LLC's holdings in Eaton were worth $5,343,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of ETN. Regent Peak Wealth Advisors LLC bought a new position in Eaton in the 4th quarter valued at about $532,000. Brookstone Capital Management lifted its position in Eaton by 2.0% in the 4th quarter. Brookstone Capital Management now owns 2,820 shares of the industrial products company's stock valued at $936,000 after acquiring an additional 54 shares in the last quarter. Oak Thistle LLC bought a new position in Eaton in the 4th quarter valued at about $332,000. Kathmere Capital Management LLC lifted its position in Eaton by 8.7% in the 4th quarter. Kathmere Capital Management LLC now owns 1,089 shares of the industrial products company's stock valued at $361,000 after acquiring an additional 87 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in shares of Eaton by 19.8% during the 4th quarter. Park Avenue Securities LLC now owns 13,520 shares of the industrial products company's stock worth $4,487,000 after buying an additional 2,231 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Eaton
In other Eaton news, insider Michael Yelton sold 2,120 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider now owns 3,382 shares in the company, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig Arnold sold 103,486 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the sale, the insider now owns 490,208 shares in the company, valued at approximately $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock worth $49,622,894 over the last 90 days. 0.30% of the stock is owned by company insiders.
Eaton Price Performance
Shares of NYSE ETN traded down $1.33 during trading hours on Tuesday, reaching $327.96. 1,654,467 shares of the stock traded hands, compared to its average volume of 2,661,322. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $128.33 billion, a P/E ratio of 34.52, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14. The company's 50-day simple moving average is $288.15 and its two-hundred day simple moving average is $319.43. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99.
Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.02. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.40 earnings per share. Equities research analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.
Eaton Dividend Announcement
The company also recently disclosed 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. This represents a $4.16 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Monday, May 5th. Eaton's dividend payout ratio (DPR) is 41.98%.
Analysts Set New Price Targets
Several equities analysts have commented on the stock. Wells Fargo & Company reissued an "overweight" rating and set a $355.00 target price on shares of Eaton in a research report on Monday, May 5th. Morgan Stanley decreased their price target on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Melius Research restated a "hold" rating and set a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Citigroup raised their price target on shares of Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Finally, Barclays decreased 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 note on Friday, April 4th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $367.83.
Check Out Our Latest Analysis on ETN
Eaton Company Profile
(
Free Report)
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.
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