Twinbeech Capital LP bought a new position in Eaton Co. plc (NYSE:ETN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 72,635 shares of the industrial products company's stock, valued at approximately $24,105,000.
Other large investors have also added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. boosted its position in shares of Eaton by 0.9% during the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company's stock valued at $1,029,000 after acquiring an additional 28 shares during the last quarter. Lantz Financial LLC boosted its position in shares of Eaton by 4.8% during the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company's stock valued at $219,000 after acquiring an additional 30 shares during the last quarter. Norden Group LLC boosted its position in shares of Eaton by 3.4% during the 4th quarter. Norden Group LLC now owns 978 shares of the industrial products company's stock valued at $325,000 after acquiring an additional 32 shares during the last quarter. TFC Financial Management Inc. boosted its position in shares of Eaton by 4.7% during the 4th quarter. TFC Financial Management Inc. now owns 752 shares of the industrial products company's stock valued at $250,000 after acquiring an additional 34 shares during the last quarter. Finally, Nwam LLC boosted its position in shares of Eaton by 0.6% during the 4th quarter. Nwam LLC now owns 5,314 shares of the industrial products company's stock valued at $1,764,000 after acquiring an additional 34 shares during the last quarter. Institutional investors own 82.97% of the company's stock.
Insider Buying and Selling at Eaton
In other news, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the transaction, the insider now directly owns 490,208 shares of the company's stock, valued at approximately $158,214,632. The trade was a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the transaction, the insider now directly owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. The trade was a 38.53% 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 valued at $49,622,894 in the last ninety days. Corporate insiders own 0.30% of the company's stock.
Eaton Stock Performance
NYSE ETN opened at $329.40 on Monday. The stock has a market capitalization of $128.89 billion, a PE ratio of 34.67, a P/E/G 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. The business has a 50 day simple moving average of $287.40 and a two-hundred day simple moving average of $319.47. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99.
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 analysts' consensus estimates of $2.70 by $0.02. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The firm had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter in the previous year, the business earned $2.40 EPS. The company's quarterly revenue 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 Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Monday, May 5th. Eaton's dividend payout ratio (DPR) is presently 41.98%.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on ETN shares. KeyCorp boosted their target price on Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. BNP Paribas started coverage on Eaton in a research report on Thursday. They issued an "outperform" rating and a $380.00 target price for the company. Melius downgraded Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price for the company. in a research report on Tuesday, January 28th. Royal Bank of Canada boosted their price objective on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Finally, Jefferies Financial Group lowered their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $366.56.
Check Out Our Latest Stock Report on Eaton
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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