Brooklyn FI LLC acquired a new stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,216 shares of the industrial products company's stock, valued at approximately $427,000.
Other large investors have also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. increased its stake in Eaton by 0.9% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company's stock worth $1,029,000 after acquiring an additional 28 shares during the last quarter. Norden Group LLC grew its holdings in shares of Eaton by 3.4% in the fourth 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. increased its position in 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 purchasing an additional 34 shares during the last quarter. Nwam LLC raised its stake in Eaton by 0.6% during the fourth quarter. Nwam LLC now owns 5,314 shares of the industrial products company's stock valued at $1,764,000 after purchasing an additional 34 shares in the last quarter. Finally, Founders Financial Alliance LLC lifted its position in Eaton by 0.7% during the fourth quarter. Founders Financial Alliance LLC now owns 5,415 shares of the industrial products company's stock valued at $1,797,000 after purchasing an additional 35 shares during the last quarter. 82.97% of the stock is owned by institutional investors.
Insider Activity
In related news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the transaction, the insider now directly owns 3,382 shares of the company's stock, valued at $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Craig Arnold sold 51,054 shares of the stock in a transaction on 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 sale, the insider now directly owns 489,444 shares in the company, valued at $149,490,880.92. This trade represents a 9.45% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 156,660 shares of company stock worth $49,622,894. Company insiders own 0.30% of the company's stock.
Eaton Trading Down 1.4%
ETN traded down $4.46 on Friday, reaching $320.35. 3,787,956 shares of the company traded hands, compared to its average volume of 2,675,021. The company has a market cap of $125.35 billion, a P/E ratio of 33.72, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The firm has a fifty day simple moving average of $293.29 and a two-hundred day simple moving average of $317.89.
Eaton (NYSE:ETN - Get Free Report) last issued its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $2.40 earnings per share. As a group, equities research analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.
Eaton Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Monday, May 5th. Eaton's payout ratio is 41.98%.
Analysts Set New Price Targets
A number of analysts have recently weighed in on ETN shares. JPMorgan Chase & Co. boosted their target price on shares of Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Morgan Stanley dropped their price target on Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. BNP Paribas initiated coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective on the stock. Citigroup raised their price objective on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research report on Sunday, May 18th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $367.83.
View Our Latest Report on Eaton
About Eaton
(
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.
Further Reading
Before you consider Eaton, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Eaton wasn't on the list.
While Eaton currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
