SG Americas Securities LLC Buys 297,166 Shares of Eaton Corporation, PLC $ETN

Key Points

• SG Americas Securities LLC boosted its stake in Eaton by 438.9% in Q4, buying 297,166 shares to hold 364,877 shares (about 0.09% of the company) valued at roughly $116,217,000.
• Insider Sternadt Paulo Ruiz sold 10,707 shares on Feb. 12 at an average price of $390.26 for about $4.18 million, a 27.86% reduction in his position; company insiders own 0.30% of Eaton.
• Eaton raised its quarterly dividend to $1.10 (annualized $4.40) from $1.04, payable March 27 with an ex-dividend/record date listed as March 10, implying a yield around 1.2%.

SG Americas Securities LLC increased its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 438.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 364,877 shares of the industrial products company's stock after purchasing an additional 297,166 shares during the quarter. SG Americas Securities LLC owned approximately 0.09% of Eaton worth $116,217,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ETN. Park Place Capital Corp lifted its holdings in shares of Eaton by 5.3% in the 4th quarter. Park Place Capital Corp now owns 948 shares of the industrial products company's stock worth $302,000 after buying an additional 48 shares during the period. Aventura Private Wealth LLC purchased a new position in shares of Eaton during the fourth quarter valued at $1,339,000. Ransom Advisory Ltd purchased a new position in shares of Eaton during the fourth quarter valued at $3,881,000. Red Spruce Capital LLC raised its holdings in shares of Eaton by 1.5% in the fourth quarter. Red Spruce Capital LLC now owns 15,305 shares of the industrial products company's stock valued at $4,875,000 after acquiring an additional 229 shares in the last quarter. Finally, Park National Corp OH lifted its stake in Eaton by 52.5% in the fourth quarter. Park National Corp OH now owns 3,777 shares of the industrial products company's stock worth $1,203,000 after acquiring an additional 1,300 shares during the period. 82.97% of the stock is owned by institutional investors.

Insider Transactions at Eaton

In other Eaton news, insider Sternadt Paulo Ruiz sold 10,707 shares of Eaton stock in a transaction dated 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 sale, the insider owned 27,729 shares of the company's stock, valued at approximately $10,821,519.54. The trade was a 27.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ETN shares. Barclays increased their target price on shares of Eaton from $350.00 to $354.00 and gave the stock an "equal weight" rating in a report on Monday, March 16th. Jefferies Financial Group started coverage on shares of Eaton in a research report on Monday, March 16th. They issued a "buy" rating and a $430.00 price target for the company. Royal Bank Of Canada reiterated an "outperform" rating and set a $407.00 price objective on shares of Eaton in a research note on Wednesday, February 4th. HSBC raised shares of Eaton from a "hold" rating to a "buy" rating and set a $400.00 price objective on the stock in a report on Friday, January 16th. Finally, Citigroup lowered their target price on Eaton from $442.00 to $435.00 and set a "buy" rating for the company in a report on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $395.11.

Eaton Stock Up 0.9%

ETN stock opened at $360.03 on Tuesday. The stock has a market capitalization of $139.68 billion, a PE ratio of 34.42, a price-to-earnings-growth ratio of 2.46 and a beta of 1.17. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $408.45. The company has a quick ratio of 0.81, a current ratio of 1.32 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average of $359.94 and a 200 day moving average of $355.86.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The industrial products company reported $3.23 earnings per share (EPS) for the quarter. Eaton had a net margin of 14.89% and a return on equity of 25.00%. Sell-side analysts forecast 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 will be paid on Friday, March 27th. Investors of record on Tuesday, March 10th will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, March 10th. This is a positive change from Eaton's previous quarterly dividend of $1.04. Eaton's 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.