LM Advisors LLC Invests $880,000 in Eaton Co. plc (NYSE:ETN)

LM Advisors LLC purchased a new position in Eaton Co. plc (NYSE:ETN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,652 shares of the industrial products company's stock, valued at approximately $880,000.

Several other hedge funds also recently modified their holdings of ETN. Flagship Wealth Advisors LLC acquired a new position in Eaton during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton in the 4th quarter worth about $30,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Eaton during the 4th quarter worth about $33,000. Vermillion Wealth Management Inc. acquired a new stake in Eaton in the fourth quarter worth approximately $33,000. Finally, Activest Wealth Management lifted its holdings in Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 87 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 subject of a number of recent research reports. Citigroup increased their price objective on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research note on Sunday, May 18th. Barclays reduced their price objective on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a research note on Friday, April 4th. Jefferies Financial Group dropped their target price on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $355.00 price objective on shares of Eaton in a research note on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $367.83.

Insider Buying and Selling

In other news, 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 transaction 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. The trade was a 9.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael Yelton sold 2,120 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 156,660 shares of company stock valued at $49,622,894. Insiders own 0.30% of the company's stock.

Eaton Stock Down 0.3%

Shares of NYSE:ETN traded down $0.91 on Thursday, reaching $324.77. The company had a trading volume of 1,617,527 shares, compared to its average volume of 2,658,722. The stock has a market capitalization of $127.08 billion, a P/E ratio of 34.19, a P/E/G ratio of 2.64 and a beta of 1.14. The stock has a 50-day moving average price of $292.46 and a 200 day moving average price of $318.55. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99. 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 announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (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 firm had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter in the prior year, the business earned $2.40 earnings per share. The company's revenue was up 7.3% on a year-over-year basis. On average, equities analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were paid a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.28%. Eaton's payout ratio is presently 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.