Pacific Point Advisors LLC bought a new position in Eaton Co. plc (NYSE:ETN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,645 shares of the industrial products company's stock, valued at approximately $518,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GTS Securities LLC raised its holdings in Eaton by 319.1% in the fourth quarter. GTS Securities LLC now owns 2,213 shares of the industrial products company's stock valued at $734,000 after buying an additional 1,685 shares during the period. Fourth Dimension Wealth LLC acquired a new position in shares of Eaton during the fourth quarter worth $566,000. Breed s Hill Capital LLC increased its stake in Eaton by 122.7% during the 4th quarter. Breed s Hill Capital LLC now owns 1,880 shares of the industrial products company's stock worth $624,000 after buying an additional 1,036 shares during the period. Vise Technologies Inc. lifted its holdings in Eaton by 125.0% in the 4th quarter. Vise Technologies Inc. now owns 6,714 shares of the industrial products company's stock worth $2,228,000 after buying an additional 3,730 shares in the last quarter. Finally, Connecticut Wealth Management LLC boosted its holdings in Eaton by 17.5% in the fourth quarter. Connecticut Wealth Management LLC now owns 1,447 shares of the industrial products company's stock valued at $480,000 after purchasing an additional 216 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on ETN. Morgan Stanley dropped their price target on Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Evercore ISI lifted their price objective on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. BNP Paribas started coverage on shares of Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price on the stock. Melius downgraded Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target on the stock. in a report on Tuesday, January 28th. Finally, BNP Paribas Exane initiated coverage on shares of Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $367.83.
Get Our Latest Research Report on Eaton
Eaton Price Performance
ETN stock traded down $1.04 during midday trading on Wednesday, reaching $327.12. The company had a trading volume of 706,134 shares, compared to its average volume of 2,654,414. 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 company has a market capitalization of $128.00 billion, a price-to-earnings ratio of 34.44, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14. The stock has a 50 day moving average price of $291.87 and a 200-day moving average price of $318.50. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99.
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 (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.02. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The firm's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.40 earnings per share. Equities research analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.
Eaton Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's dividend payout ratio is 41.98%.
Insiders Place Their Bets
In other news, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the transaction, the insider now directly owns 490,208 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed 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. In the last ninety days, insiders sold 156,660 shares of company stock valued at $49,622,894. Corporate insiders own 0.30% of the company's stock.
About Eaton
(
Free Report)
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.
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