Thoma Capital Management LLC purchased a new position in Eaton Co. plc (NYSE:ETN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,458 shares of the industrial products company's stock, valued at approximately $816,000. Eaton comprises about 0.6% of Thoma Capital Management LLC's holdings, making the stock its 26th biggest position.
A number of other large investors also recently modified their holdings of the business. Wetzel Investment Advisors Inc. lifted its position in shares of Eaton by 0.9% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company's stock worth $1,029,000 after buying an additional 28 shares during the last quarter. Norden Group LLC lifted its position in shares of Eaton by 3.4% in the 4th quarter. Norden Group LLC now owns 978 shares of the industrial products company's stock worth $325,000 after buying an additional 32 shares during the last quarter. TFC Financial Management Inc. lifted its position in shares of Eaton by 4.7% in the 4th quarter. TFC Financial Management Inc. now owns 752 shares of the industrial products company's stock worth $250,000 after buying an additional 34 shares during the last quarter. Nwam LLC increased its holdings in shares of Eaton by 0.6% in the 4th quarter. Nwam LLC now owns 5,314 shares of the industrial products company's stock worth $1,764,000 after acquiring an additional 34 shares during the period. Finally, Founders Financial Alliance LLC increased its holdings in shares of Eaton by 0.7% in the 4th quarter. Founders Financial Alliance LLC now owns 5,415 shares of the industrial products company's stock worth $1,797,000 after acquiring an additional 35 shares during the period. 82.97% of the stock is currently owned by institutional investors.
Eaton Price Performance
Shares of ETN traded down $4.46 during mid-day trading on Friday, hitting $320.35. The company's stock had a trading volume of 3,787,956 shares, compared to its average volume of 2,670,431. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The firm has a 50-day moving average price of $293.29 and a 200 day moving average price of $317.53. The stock has a market capitalization of $125.35 billion, a price-to-earnings ratio of 33.72, a PEG ratio of 2.64 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.
Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.70 by $0.02. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The company had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same period last year, the company posted $2.40 earnings per share. The business's revenue for the quarter was up 7.3% on a year-over-year basis. On average, research analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.
Eaton Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Monday, May 5th. Eaton's payout ratio is 41.98%.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $355.00 price objective on shares of Eaton in a report on Monday, May 5th. Barclays dropped their price objective on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a report on Friday, April 4th. JPMorgan Chase & Co. increased their price objective on shares of Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. BNP Paribas assumed coverage on shares of Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective on the stock. Finally, Evercore ISI boosted their price target 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. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $367.83.
Check Out Our Latest Stock Analysis on ETN
Insiders Place Their Bets
In related news, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Craig Arnold sold 51,054 shares of the firm's stock in a transaction that occurred on 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 sale, the insider now owns 489,444 shares of the company's stock, valued at approximately $149,490,880.92. This represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock worth $49,622,894 over the last ninety days. 0.30% of the stock is currently owned by company insiders.
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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