Castlekeep Investment Advisors LLC Purchases Shares of 11,947 Eaton Co. plc (NYSE:ETN)

Castlekeep Investment Advisors LLC purchased a new position in shares of Eaton Co. plc (NYSE:ETN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 11,947 shares of the industrial products company's stock, valued at approximately $3,965,000.

Other institutional investors have also recently bought and sold shares of the company. Traynor Capital Management Inc. lifted its position in shares of Eaton by 11.1% in the fourth quarter. Traynor Capital Management Inc. now owns 821 shares of the industrial products company's stock valued at $273,000 after buying an additional 82 shares during the last quarter. Mutual Advisors LLC lifted its position in shares of Eaton by 3.9% in the fourth quarter. Mutual Advisors LLC now owns 6,629 shares of the industrial products company's stock valued at $2,288,000 after buying an additional 246 shares during the last quarter. Avior Wealth Management LLC lifted its position in shares of Eaton by 7.7% in the fourth quarter. Avior Wealth Management LLC now owns 2,793 shares of the industrial products company's stock valued at $927,000 after buying an additional 199 shares during the last quarter. Red Door Wealth Management LLC lifted its position in shares of Eaton by 2.9% in the fourth quarter. Red Door Wealth Management LLC now owns 1,627 shares of the industrial products company's stock valued at $540,000 after buying an additional 46 shares during the last quarter. Finally, Secure Asset Management LLC lifted its holdings in Eaton by 6.8% during the 4th quarter. Secure Asset Management LLC now owns 2,933 shares of the industrial products company's stock worth $973,000 after purchasing an additional 188 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Transactions at Eaton

In other Eaton news, insider Craig Arnold sold 103,486 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider now owns 490,208 shares of the company's stock, valued at $158,214,632. This represents a 17.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction, the insider now directly 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. In the last quarter, insiders sold 156,660 shares of company stock valued at $49,622,894. Corporate insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ETN shares. Jefferies Financial Group dropped 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. BNP Paribas started coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. Wells Fargo & Company reissued an "overweight" rating and set a $355.00 price target on shares of Eaton in a report on Monday, May 5th. Morgan Stanley dropped their price target on Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, Barclays dropped their price objective on 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 issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $367.83.

Eaton Price Performance

Shares of Eaton stock traded down $2.75 during trading on Wednesday, reaching $325.41. 1,981,612 shares of the company's stock were exchanged, compared to its average volume of 2,659,334. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. The company has a market cap of $127.33 billion, a P/E ratio of 34.25, a PEG ratio of 2.64 and a beta of 1.14. The firm's 50-day moving average price is $291.87 and its 200 day moving average price is $318.50.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly 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. 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 analysts' expectations of $6.26 billion. During the same quarter in the previous year, the firm earned $2.40 EPS. Eaton's revenue was up 7.3% on a year-over-year basis. As a group, research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a dividend of $1.04 per share. 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 1.28%. Eaton's dividend payout ratio (DPR) is currently 41.98%.

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.