Boltwood Capital Management Takes Position in Eaton Co. plc (NYSE:ETN)

Boltwood Capital Management purchased a new position in Eaton Co. plc (NYSE:ETN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 945 shares of the industrial products company's stock, valued at approximately $257,000.

A number of other hedge funds also recently bought and sold shares of the company. Norden Group LLC lifted its holdings in Eaton by 3.4% in the 4th quarter. Norden Group LLC now owns 978 shares of the industrial products company's stock valued at $325,000 after purchasing an additional 32 shares in the last quarter. TFC Financial Management Inc. lifted its stake in shares of Eaton by 4.7% in the fourth quarter. TFC Financial Management Inc. now owns 752 shares of the industrial products company's stock worth $250,000 after buying an additional 34 shares in the last quarter. Nwam LLC grew its stake in Eaton by 0.6% during the 4th quarter. Nwam LLC now owns 5,314 shares of the industrial products company's stock valued at $1,764,000 after acquiring an additional 34 shares in the last quarter. Founders Financial Alliance LLC raised its holdings in Eaton by 0.7% in the 4th quarter. Founders Financial Alliance LLC now owns 5,415 shares of the industrial products company's stock valued at $1,797,000 after acquiring an additional 35 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC lifted its stake in Eaton by 1.1% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 3,587 shares of the industrial products company's stock worth $1,190,000 after purchasing an additional 38 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Eaton Stock Down 0.2%

ETN stock opened at $326.50 on Friday. The firm has a fifty day moving average price of $297.01 and a two-hundred day moving average price of $316.86. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. The firm has a market cap of $127.76 billion, a price-to-earnings ratio of 34.37, a PEG ratio of 2.64 and a beta of 1.16.

Eaton (NYSE:ETN - Get Free Report) last posted its 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. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same period in the prior year, the company earned $2.40 earnings per share. The business's revenue was up 7.3% compared to the same quarter last year. Research analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.27%. Eaton's dividend payout ratio (DPR) is presently 41.98%.

Analysts Set New Price Targets

Several equities research analysts recently commented on ETN shares. BNP Paribas Exane assumed coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. Citigroup boosted their price target on shares of Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Wells Fargo & Company restated an "overweight" rating and set a $355.00 price objective on shares of Eaton in a research report on Monday, May 5th. Royal Bank of Canada boosted their target price on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Finally, Barclays cut their price target on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, Eaton currently has an average rating of "Moderate Buy" and a consensus price target of $367.83.

Insider Activity at Eaton

In related 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 completion of the sale, the insider now owns 3,382 shares of the company's stock, valued at $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 completion of the transaction, the insider now owns 490,208 shares of the company's stock, valued at $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock worth $49,622,894 in the last ninety days. 0.30% of the stock is owned by insiders.

Eaton 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.

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