Norris Perne & French LLP MI Invests $7.89 Million in Eaton Corporation, PLC $ETN

Key Points

• Norris Perne & French LLP MI bought a new position of 24,781 shares of Eaton (NYSE:ETN) in Q4, valued at approximately $7.89 million.
• Insider Sternadt Paulo Ruiz sold 10,707 shares on Feb. 12 for about $4.18 million, reducing their ownership by 27.86%.
• Eaton raised its quarterly dividend to $1.10 (annualized $4.40, ~1.1% yield), and analysts maintain a consensus rating of "Moderate Buy" with a consensus target of $396.50.

Norris Perne & French LLP MI bought a new position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 24,781 shares of the industrial products company's stock, valued at approximately $7,893,000.

Other large investors also recently modified their holdings of the company. Eagle Bay Advisors LLC acquired a new position in shares of Eaton during the fourth quarter worth approximately $29,000. WFA of San Diego LLC acquired a new position in shares of Eaton during the second quarter worth approximately $36,000. Imprint Wealth LLC acquired a new position in shares of Eaton during the third quarter worth approximately $39,000. Redmont Wealth Advisors LLC acquired a new position in shares of Eaton during the third quarter worth approximately $40,000. Finally, Grey Fox Wealth Advisors LLC acquired a new position in shares of Eaton during the third quarter worth approximately $70,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Eaton news, insider Sternadt Paulo Ruiz sold 10,707 shares of the company's stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $390.26, for a total value of $4,178,513.82. Following the completion of the sale, the insider owned 27,729 shares of the company's stock, valued at approximately $10,821,519.54. This represents a 27.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.10% of the company's stock.

Eaton Trading Down 0.0%

ETN opened at $402.80 on Tuesday. Eaton Corporation, PLC has a fifty-two week low of $255.10 and a fifty-two week high of $408.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.32 and a quick ratio of 0.81. The company has a market cap of $156.28 billion, a price-to-earnings ratio of 38.51, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17. The firm has a 50 day simple moving average of $369.27 and a 200 day simple moving average of $356.55.

Eaton (NYSE:ETN - Get Free Report) last issued its earnings results on Thursday, February 26th. The industrial products company reported $3.23 EPS for the quarter. Eaton had a net margin of 14.89% and a return on equity of 25.00%. The firm had revenue of $7.06 billion during the quarter. On average, sell-side analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Tuesday, March 10th were paid a $1.10 dividend. The ex-dividend date of this dividend was Tuesday, March 10th. This is a boost from Eaton's previous quarterly dividend of $1.04. This represents a $4.40 annualized dividend and a yield of 1.1%. Eaton's payout ratio is currently 42.07%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ETN. Weiss Ratings reiterated a "buy (b-)" rating on shares of Eaton in a research report on Wednesday, January 21st. Sanford C. Bernstein reissued an "outperform" rating on shares of Eaton in a research note on Tuesday, January 27th. JPMorgan Chase & Co. dropped their price target on shares of Eaton from $440.00 to $406.00 and set an "overweight" rating for the company in a research note on Friday, January 16th. UBS Group reissued a "neutral" rating and set a $360.00 price target (down from $440.00) on shares of Eaton in a research note on Sunday, January 4th. Finally, Wells Fargo & Company dropped their price target on shares of Eaton from $370.00 to $350.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 1st. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Eaton currently has a consensus rating of "Moderate Buy" and a consensus target price of $396.50.

Eaton Profile

Eaton NYSE: ETN is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company's offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.

Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.

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