Gotham Asset Management LLC Buys 5,308 Shares of Eaton Co. plc (NYSE:ETN)

Gotham Asset Management LLC increased its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 12.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,904 shares of the industrial products company's stock after purchasing an additional 5,308 shares during the period. Gotham Asset Management LLC's holdings in Eaton were worth $15,566,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Flagship Wealth Advisors LLC bought a new position in shares of Eaton in the 4th quarter valued at about $27,000. Noble Wealth Management PBC acquired a new position in shares of Eaton in the 4th quarter valued at $30,000. Horizon Bancorp Inc. IN boosted its position in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Eaton during the fourth quarter worth $33,000. Finally, Activest Wealth Management lifted its stake in Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock valued at $34,000 after buying an additional 87 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analyst Weigh In

ETN has been the subject of a number of analyst reports. Wells Fargo & Company restated an "overweight" rating and set a $355.00 price objective on shares of Eaton in a report on Monday, May 5th. Melius Research reissued a "hold" rating and issued a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price target on Eaton from $289.00 to $300.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Morgan Stanley decreased their price target on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Finally, StockNews.com downgraded shares of Eaton from a "buy" rating to a "hold" rating in a research report on Saturday. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $361.13.

Eaton Trading Up 1.0 %

Shares of ETN opened at $310.01 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99. The firm has a market cap of $121.31 billion, a price-to-earnings ratio of 32.63, a PEG ratio of 2.64 and a beta of 1.14. The business's fifty day moving average is $282.81 and its 200-day moving average is $320.13.

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, topping analysts' consensus estimates of $2.70 by $0.02. The firm had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.40 earnings per share. Equities analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Monday, May 5th. Eaton's payout ratio is 41.98%.

Insider Activity at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the business'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 sale, the insider now directly owns 3,382 shares of the company's stock, valued at $1,004,014.34. The trade was a 38.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Craig Arnold sold 51,054 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were 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 $149,490,880.92. The trade was a 9.45 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

About Eaton

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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