Dogwood Wealth Management LLC Makes New $562,000 Investment in Eaton Co. plc (NYSE:ETN)

Dogwood Wealth Management LLC purchased a new stake in Eaton Co. plc (NYSE:ETN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,693 shares of the industrial products company's stock, valued at approximately $562,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Siemens Fonds Invest GmbH increased its stake in Eaton by 439.8% in the fourth quarter. Siemens Fonds Invest GmbH now owns 28,504 shares of the industrial products company's stock valued at $9,543,000 after purchasing an additional 23,224 shares in the last quarter. Park Square Financial Group LLC purchased a new position in Eaton in the fourth quarter valued at about $55,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Eaton during the 4th quarter valued at approximately $145,077,000. Brooklyn FI LLC purchased a new stake in shares of Eaton during the 4th quarter worth approximately $427,000. Finally, Fidelity D & D Bancorp Inc. raised its holdings in shares of Eaton by 16.1% in the 4th quarter. Fidelity D & D Bancorp Inc. now owns 918 shares of the industrial products company's stock worth $305,000 after purchasing an additional 127 shares during the period. Institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley reduced their price objective on Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Wall Street Zen upgraded shares of Eaton from a "hold" rating to a "buy" rating in a research note on Sunday, May 18th. BNP Paribas began coverage on shares of Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. Evercore ISI raised their price objective on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Finally, Jefferies Financial Group lowered their target price on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $367.83.

Eaton Price Performance

Shares of Eaton stock traded down $4.46 on Friday, hitting $320.35. 3,787,956 shares of the company traded hands, compared to its average volume of 2,669,305. The firm's 50-day simple moving average is $292.89 and its 200 day simple moving average is $318.23. Eaton Co. plc has a 12-month low of $231.85 and a 12-month high of $379.99. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company has a market cap of $125.35 billion, a P/E ratio of 33.72, a P/E/G ratio of 2.64 and a beta of 1.14.

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 the consensus estimate of $2.70 by $0.02. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same period last year, the firm posted $2.40 earnings per share. The business's revenue was up 7.3% compared to the same quarter last year. Analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Monday, May 5th. Eaton's dividend payout ratio is 41.98%.

Insider Buying and Selling

In other Eaton news, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider now owns 3,382 shares of the company's stock, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Arnold sold 51,054 shares of the business's stock in a transaction dated 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 transaction, the insider now owns 489,444 shares in the company, valued at approximately $149,490,880.92. This represents a 9.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock valued at $49,622,894 over the last three months. 0.30% of the stock is owned by company insiders.

Eaton Profile

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.