Triglav Skladi D.O.O. Makes New Investment in Eaton Co. plc (NYSE:ETN)

Triglav Skladi D.O.O. bought a new stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 41,579 shares of the industrial products company's stock, valued at approximately $13,800,000. Eaton makes up approximately 1.1% of Triglav Skladi D.O.O.'s holdings, making the stock its 22nd biggest position.

A number of other large investors also recently modified their holdings of ETN. Flagship Wealth Advisors LLC purchased a new position in shares of Eaton during the 4th quarter valued at $27,000. Noble Wealth Management PBC purchased a new position in shares of Eaton during the 4th quarter valued at $30,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Eaton during the 4th quarter valued at $33,000. Activest Wealth Management lifted its stake in shares of Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock valued at $34,000 after buying an additional 87 shares in the last quarter. Finally, Knuff & Co LLC purchased a new position in shares of Eaton during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Eaton Price Performance

Shares of NYSE ETN traded down $5.94 during mid-day trading on Wednesday, hitting $322.32. 1,725,508 shares of the company's stock traded hands, compared to its average volume of 2,662,665. The company's 50-day moving average is $289.60 and its two-hundred day moving average is $319.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a market capitalization of $126.12 billion, a P/E ratio of 33.93, a PEG ratio of 2.64 and a beta of 1.14. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.70 by $0.02. The company had revenue of $6.38 billion for 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 was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.40 EPS. On average, equities analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued a dividend of $1.04 per share. The ex-dividend date is Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.29%. Eaton's payout ratio is 41.98%.

Analyst Ratings Changes

A number of brokerages have issued reports on ETN. Barclays reduced their price target on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a report on Friday, April 4th. Melius Research reiterated a "hold" rating and issued a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Jefferies Financial Group reduced their price target on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Citigroup lifted their price target on shares of Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a report on Monday, May 5th. Finally, Royal Bank of Canada lifted their price target on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $367.83.

Insider Activity at Eaton

In other Eaton news, insider Craig Arnold sold 51,054 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $305.43, for a total value of $15,593,423.22. Following the transaction, the insider now directly owns 489,444 shares in the company, valued at $149,490,880.92. This represents a 9.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the transaction, the insider now owns 3,382 shares in the company, valued at $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 156,660 shares of company stock worth $49,622,894. Insiders own 0.30% of the company's stock.

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.