11,947 Shares in Eaton Co. plc (NYSE:ETN) Purchased by Castlekeep Investment Advisors LLC

Castlekeep Investment Advisors LLC acquired a new position in shares of Eaton Co. plc (NYSE:ETN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,947 shares of the industrial products company's stock, valued at approximately $3,965,000.

Several other institutional investors also recently modified their holdings of ETN. Flagship Wealth Advisors LLC bought a new position in Eaton during the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC purchased a new position in Eaton in the 4th quarter worth $30,000. Murphy & Mullick Capital Management Corp bought a new stake in Eaton in the fourth quarter worth $33,000. Activest Wealth Management boosted its position in Eaton by 621.4% during the fourth 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 during the period. Finally, Knuff & Co LLC bought a new position in shares of Eaton during the fourth quarter valued at about $37,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ETN shares. BNP Paribas Exane started 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. Wells Fargo & Company reiterated an "overweight" rating and issued a $355.00 price target on shares of Eaton in a research note on Monday, May 5th. JPMorgan Chase & Co. boosted their price objective on shares of Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Wall Street Zen raised shares of Eaton from a "hold" rating to a "buy" rating in a research note on Sunday, May 18th. Finally, KeyCorp raised their price objective on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $367.83.

Eaton Stock Performance

ETN traded up $7.04 during midday trading on Tuesday, hitting $328.10. 1,568,720 shares of the company traded hands, compared to its average volume of 2,662,044. The company's 50-day moving average is $291.21 and its 200 day moving average is $318.44. Eaton Co. plc has a 52 week low of $231.85 and a 52 week high of $379.99. The firm has a market capitalization of $128.39 billion, a PE ratio of 34.54, 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 (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, topping analysts' consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.40 EPS. On average, research analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.27%. Eaton's payout ratio is 41.98%.

Insider Buying and Selling at Eaton

In related news, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 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 approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock worth $49,622,894 in the last three months. 0.30% of the stock is currently owned by company insiders.

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.