GTS Securities LLC Has $734,000 Position in Eaton Co. plc (NYSE:ETN)

GTS Securities LLC lifted its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 319.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,213 shares of the industrial products company's stock after acquiring an additional 1,685 shares during the quarter. GTS Securities LLC's holdings in Eaton were worth $734,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Lighthouse Wealth Management Inc. acquired a new stake in shares of Eaton during the fourth quarter worth about $297,000. Bearing Point Capital LLC purchased a new stake in Eaton in the 4th quarter valued at approximately $2,713,000. Webster Bank N. A. boosted its holdings in Eaton by 52.4% in the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company's stock valued at $5,949,000 after purchasing an additional 6,166 shares in the last quarter. Blue Trust Inc. boosted its holdings in Eaton by 13.2% in the 4th quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company's stock valued at $4,804,000 after purchasing an additional 1,694 shares in the last quarter. Finally, New England Research & Management Inc. boosted its stake in shares of Eaton by 128.3% during the 4th quarter. New England Research & Management Inc. now owns 3,069 shares of the industrial products company's stock worth $1,019,000 after acquiring an additional 1,725 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ETN shares. Citigroup boosted their price target on Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Morgan Stanley cut 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. Wells Fargo & Company restated an "overweight" rating and set a $355.00 price objective on shares of Eaton in a report on Monday, May 5th. Jefferies Financial Group dropped their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Finally, BNP Paribas Exane began coverage on shares of Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $367.83.

Insider Buying and Selling at Eaton

In related news, insider Craig Arnold sold 51,054 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the completion of the sale, the insider now directly owns 489,444 shares in the company, valued at approximately $149,490,880.92. This trade represents a 9.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the transaction, the insider now owns 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. 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. 0.30% of the stock is owned by company insiders.

Eaton Stock Down 2.2%

Shares of ETN stock traded down $7.30 during trading hours on Friday, hitting $317.51. 941,567 shares of the company were exchanged, compared to its average volume of 2,658,348. 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 one year low of $231.85 and a one year high of $379.99. The business's 50-day simple moving average is $292.89 and its two-hundred day simple moving average is $318.23. The stock has a market capitalization of $124.24 billion, a price-to-earnings ratio of 33.42, a P/E/G ratio of 2.64 and a beta of 1.14.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.02. The firm 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%. Eaton's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.40 earnings per share. Sell-side analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.31%. Eaton's payout ratio is currently 41.98%.

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.