Smithbridge Asset Management Inc. DE Makes New $516,000 Investment in Eaton Co. plc (NYSE:ETN)

Smithbridge Asset Management Inc. DE bought a new stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,900 shares of the industrial products company's stock, valued at approximately $516,000.

Other large investors have also recently made changes to their positions in the company. Capital A Wealth Management LLC purchased a new stake in Eaton in the 4th quarter worth about $26,000. Flagship Wealth Advisors LLC purchased a new stake in Eaton in the 4th quarter worth about $27,000. Noble Wealth Management PBC purchased a new stake in Eaton in the 4th quarter worth about $30,000. Murphy & Mullick Capital Management Corp purchased a new stake in Eaton in the 4th quarter worth about $33,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in Eaton in the 4th quarter worth about $33,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ETN. BNP Paribas began coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective for the company. BNP Paribas Exane began coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective for the company. Wells Fargo & Company reissued an "overweight" rating and issued a $355.00 price objective on shares of Eaton in a report on Monday, May 5th. Royal Bank of Canada raised their target price on Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Finally, Barclays raised their target price on Eaton from $306.00 to $323.00 and gave the stock an "equal weight" rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and a consensus target price of $368.78.

Eaton Price Performance

Shares of ETN traded down $7.08 during trading hours on Friday, reaching $323.26. 1,565,268 shares of the company's stock traded hands, compared to its average volume of 2,641,084. The stock has a market cap of $126.49 billion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The firm's 50 day simple moving average is $303.34 and its 200-day simple moving average is $315.40. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. The firm 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 company's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted $2.40 EPS. Equities analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a dividend of $1.04 per share. The ex-dividend date was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.29%. Eaton's dividend payout ratio is 41.98%.

Insider Activity at Eaton

In related news, insider Craig Arnold sold 51,054 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the transaction, the insider now directly owns 489,444 shares of the company's stock, valued at approximately $149,490,880.92. This trade represents a 9.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the transaction, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 156,660 shares of company stock valued at $49,622,894. Corporate insiders own 0.30% of the company's stock.

Eaton Company 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.