Brooklyn Investment Group Has $1.40 Million Holdings in Eaton Corporation, PLC $ETN

Key Points

• Brooklyn Investment Group increased its stake in Eaton Corporation, PLC by 23.9%, holding 5,132 shares worth approximately $1.40 million.
• Analysts are optimistic about Eaton's future growth, with a consensus price target of $383.63 and a rating of "Moderate Buy" based on recent research reports.
• Eaton recently declared a quarterly dividend of $1.04 per share, translating to an annualized dividend yield of 1.2%.

Brooklyn Investment Group lifted its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 23.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,132 shares of the industrial products company's stock after buying an additional 991 shares during the period. Brooklyn Investment Group's holdings in Eaton were worth $1,395,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. IMA Advisory Services Inc. acquired a new position in shares of Eaton in the 1st quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new position in shares of Eaton in the 4th quarter worth approximately $26,000. Creative Financial Designs Inc. ADV grew its position in Eaton by 102.0% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock worth $27,000 after acquiring an additional 51 shares during the last quarter. Vermillion Wealth Management Inc. bought a new stake in Eaton during the 4th quarter worth approximately $33,000. Finally, Abound Wealth Management grew its position in Eaton by 73.8% during the 1st quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock worth $40,000 after acquiring an additional 62 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of research analyst reports. Evercore ISI increased their price target on Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. BNP Paribas initiated coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. Barclays increased their price target on Eaton from $340.00 to $344.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Sanford C. Bernstein restated an "outperform" rating and set a $396.00 price target on shares of Eaton in a research report on Monday, July 14th. Finally, Wells Fargo & Company increased their price target on Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $383.63.

Insider Buying and Selling

In related news, insider Olivier Leonetti sold 16,018 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $358.39, for a total transaction of $5,740,691.02. Following the sale, the insider owned 630 shares of the company's stock, valued at approximately $225,785.70. This trade represents a 96.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.30% of the company's stock.

Eaton Trading Down 1.2%

NYSE ETN opened at $350.87 on Monday. The stock has a 50-day simple moving average of $358.11 and a 200 day simple moving average of $318.70. The company has a market capitalization of $136.59 billion, a PE ratio of 35.30, a P/E/G ratio of 2.59 and a beta of 1.18. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.47. Eaton Corporation, PLC has a 12 month low of $231.85 and a 12 month high of $399.56.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $2.92 by $0.03. The business had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $6.93 billion. Eaton had a return on equity of 23.91% and a net margin of 15.11%. The firm's revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.73 earnings per share. Research analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, August 7th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, August 7th. Eaton's dividend payout ratio (DPR) is presently 41.85%.

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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