Prime Capital Investment Advisors LLC Raises Stock Holdings in Eaton Corporation, PLC $ETN

Key Points

• Prime Capital Investment Advisors LLC increased its stake in Eaton by 14.6% in Q4 to 52,936 shares, worth about $16.86 million according to its latest 13F filing.
• Insider Sternadt Paulo Ruiz sold 10,707 shares at an average price of $390.26 on Feb. 12, reducing his holding by 27.86%; insiders now own roughly 0.10% of Eaton.
• Research coverage is mixed but the stock has a consensus rating of "Moderate Buy" with a $395.05 price target, and Eaton recently raised its quarterly dividend to $1.10 (annualized $4.40, ~1.1% yield).

Prime Capital Investment Advisors LLC grew its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 14.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,936 shares of the industrial products company's stock after buying an additional 6,737 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Eaton were worth $16,861,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Mainstream Capital Management LLC increased its position in Eaton by 3.5% in the fourth quarter. Mainstream Capital Management LLC now owns 3,198 shares of the industrial products company's stock worth $1,019,000 after buying an additional 108 shares in the last quarter. TOWER TRUST & INVESTMENT Co increased its position in Eaton by 1.5% in the fourth quarter. TOWER TRUST & INVESTMENT Co now owns 2,545 shares of the industrial products company's stock worth $811,000 after buying an additional 38 shares in the last quarter. Independence Bank of Kentucky increased its position in Eaton by 6.0% in the fourth quarter. Independence Bank of Kentucky now owns 6,877 shares of the industrial products company's stock worth $2,190,000 after buying an additional 392 shares in the last quarter. Ethos Financial Group LLC increased its position in Eaton by 35.9% in the fourth quarter. Ethos Financial Group LLC now owns 2,006 shares of the industrial products company's stock worth $639,000 after buying an additional 530 shares in the last quarter. Finally, Princeton Global Asset Management LLC grew its position in shares of Eaton by 0.6% during the fourth quarter. Princeton Global Asset Management LLC now owns 21,289 shares of the industrial products company's stock worth $6,781,000 after purchasing an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Buying and Selling

In related news, insider Sternadt Paulo Ruiz sold 10,707 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $390.26, for a total transaction of $4,178,513.82. Following the completion of the transaction, the insider directly 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.10% of the company's stock.

Analysts Set New Price Targets

ETN has been the subject of several research analyst reports. Wells Fargo & Company cut their target price on Eaton from $370.00 to $350.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 1st. Barclays cut their target price on Eaton from $354.00 to $340.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 1st. Citigroup cut their target price on Eaton from $442.00 to $435.00 and set a "buy" rating for the company in a research report on Monday, January 12th. Royal Bank Of Canada reiterated an "outperform" rating and set a $407.00 target price on shares of Eaton in a research report on Wednesday, February 4th. Finally, UBS Group reiterated a "neutral" rating and set a $360.00 target price (down from $440.00) on shares of Eaton in a research report on Sunday, January 4th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $395.05.

Eaton Stock Performance

NYSE:ETN opened at $385.72 on Thursday. The stock has a 50-day moving average price of $366.46 and a 200 day moving average price of $356.01. Eaton Corporation, PLC has a 12-month low of $248.18 and a 12-month high of $408.45. The stock has a market capitalization of $149.65 billion, a P/E ratio of 36.88, a P/E/G ratio of 2.49 and a beta of 1.17. The company has a current ratio of 1.32, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The industrial products company reported $3.23 EPS for the quarter. Eaton had a return on equity of 25.00% and a net margin of 14.89%.The company had revenue of $7.06 billion during the quarter. Equities research analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Tuesday, March 10th were paid a dividend of $1.10 per share. 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 dividend on an annualized basis and a yield of 1.1%. Eaton's dividend payout ratio is currently 42.07%.

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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