Sunbeam Capital Management LLC Makes New Investment in Eaton Co. plc (NYSE:ETN)

Sunbeam Capital Management LLC acquired a new stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,375 shares of the industrial products company's stock, valued at approximately $788,000.

Several other institutional investors have also bought and sold shares of the business. Ascent Group LLC lifted its position in Eaton by 6.0% during the fourth quarter. Ascent Group LLC now owns 5,351 shares of the industrial products company's stock valued at $1,776,000 after purchasing an additional 302 shares during the last quarter. Vermillion Wealth Management Inc. bought a new stake in shares of Eaton in the 4th quarter worth about $33,000. AlphaCore Capital LLC lifted its holdings in shares of Eaton by 4.3% in the 4th quarter. AlphaCore Capital LLC now owns 4,383 shares of the industrial products company's stock worth $1,455,000 after acquiring an additional 179 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Eaton by 62.3% in the 4th quarter. Mackenzie Financial Corp now owns 167,688 shares of the industrial products company's stock worth $55,651,000 after acquiring an additional 64,366 shares during the last quarter. Finally, Forum Financial Management LP lifted its holdings in shares of Eaton by 1.3% in the 4th quarter. Forum Financial Management LP now owns 4,095 shares of the industrial products company's stock worth $1,359,000 after acquiring an additional 54 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Eaton Stock Down 0.3%

NYSE ETN traded down $0.91 during trading on Thursday, reaching $324.77. 1,617,471 shares of the company's stock traded hands, compared to its average volume of 2,658,719. 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 firm has a market cap of $127.08 billion, a price-to-earnings ratio of 34.19, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14. The company's 50 day simple moving average is $292.46 and its two-hundred day simple moving average is $318.55. 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 posted its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The company's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.40 EPS. As a group, sell-side analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Monday, May 5th. Eaton's payout ratio is currently 41.98%.

Insider Transactions at Eaton

In other news, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total value of $15,593,423.22. Following the transaction, the insider now owns 489,444 shares of the company's stock, valued at $149,490,880.92. The trade was a 9.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the transaction, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock valued at $49,622,894 in the last 90 days. Insiders own 0.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Wall Street Zen upgraded shares of Eaton from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. KeyCorp raised their target price on shares of Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Wells Fargo & Company restated an "overweight" rating and issued a $355.00 target price on shares of Eaton in a report on Monday, May 5th. Finally, Barclays lowered their target price on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $367.83.

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.