Breed s Hill Capital LLC Acquires 1,036 Shares of Eaton Co. plc (NYSE:ETN)

Breed s Hill Capital LLC increased its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 122.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,880 shares of the industrial products company's stock after acquiring an additional 1,036 shares during the period. Breed s Hill Capital LLC's holdings in Eaton were worth $624,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Eaton during the fourth quarter valued at $1,495,582,000. Capital International Investors bought a new position in Eaton during the fourth quarter valued at $523,541,000. Proficio Capital Partners LLC grew its holdings in Eaton by 42,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company's stock valued at $243,036,000 after purchasing an additional 730,594 shares during the period. Leigh Baldwin & CO. LLC bought a new position in Eaton during the fourth quarter valued at $231,552,000. Finally, Janus Henderson Group PLC grew its holdings in Eaton by 24.3% during the fourth quarter. Janus Henderson Group PLC now owns 3,007,570 shares of the industrial products company's stock valued at $998,144,000 after purchasing an additional 588,370 shares during the period. 82.97% of the stock is owned by institutional investors.

Eaton Trading Down 0.5%

NYSE ETN opened at $320.86 on Friday. The stock's 50-day simple moving average is $290.07 and its two-hundred day simple moving average is $319.44. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99. 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 $125.55 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 2.64 and a beta of 1.14.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter last year, the business posted $2.40 earnings per share. The company's revenue for the quarter was up 7.3% on a year-over-year basis. Research analysts forecast 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. Shareholders of record on Monday, May 5th will be given a dividend of $1.04 per share. The ex-dividend date is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.30%. Eaton's payout ratio is 41.98%.

Wall Street Analysts Forecast Growth

ETN has been the subject of several research reports. KeyCorp increased their price objective on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a report on Monday, May 5th. JPMorgan Chase & Co. raised their price target on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Jefferies Financial Group cut their price target on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. Finally, BNP Paribas Exane began coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $367.83.

Insider Buying and Selling at Eaton

In other news, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the transaction, the insider now directly owns 490,208 shares of the company's stock, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the firm'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 transaction, the insider now directly owns 3,382 shares in the company, valued at $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. 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. Corporate 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.

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