Mattson Financial Services LLC Makes New Investment in Eaton Co. plc (NYSE:ETN)

Mattson Financial Services LLC purchased a new position in Eaton Co. plc (NYSE:ETN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,223 shares of the industrial products company's stock, valued at approximately $1,731,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wood Tarver Financial Group LLC bought a new position in shares of Eaton in the fourth quarter valued at approximately $186,000. Kilter Group LLC purchased a new stake in shares of Eaton during the fourth quarter valued at approximately $220,000. Castle Rock Wealth Management LLC increased its position in shares of Eaton by 7.0% during the fourth quarter. Castle Rock Wealth Management LLC now owns 8,330 shares of the industrial products company's stock valued at $2,575,000 after acquiring an additional 543 shares during the last quarter. Dogwood Wealth Management LLC purchased a new stake in shares of Eaton during the fourth quarter valued at approximately $562,000. Finally, Siemens Fonds Invest GmbH increased its position in shares of Eaton by 439.8% during 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 acquiring an additional 23,224 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ETN shares. Jefferies Financial Group decreased their price target on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. BNP Paribas started coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. KeyCorp increased their price target on Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Morgan Stanley decreased their price target on Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Finally, BNP Paribas Exane began coverage on Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Eaton presently has a consensus rating of "Moderate Buy" and a consensus target price of $367.83.

Insider Transactions at Eaton

In related news, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction on Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the completion of the sale, the insider now owns 490,208 shares of the company's stock, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Yelton sold 2,120 shares of Eaton 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 directly owns 3,382 shares of the company's stock, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock valued at $49,622,894 over the last three months. Company insiders own 0.30% of the company's stock.

Eaton Stock Performance

Shares of Eaton stock traded down $4.46 during trading hours on Friday, reaching $320.35. The company had a trading volume of 3,787,956 shares, compared to its average volume of 2,670,431. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The business has a fifty day simple moving average of $293.29 and a 200 day simple moving average of $317.53. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The firm has a market cap of $125.35 billion, a PE ratio of 33.72, a price-to-earnings-growth 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 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 analyst estimates of $6.26 billion. During the same period last year, the company earned $2.40 earnings per share. The business's revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Monday, May 5th. 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.