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Pinnbrook Capital Management LP Buys Shares of 62,739 Eaton Co. plc (NYSE:ETN)

Pinnbrook Capital Management LP acquired a new position in shares of Eaton Co. plc (NYSE:ETN - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 62,739 shares of the industrial products company's stock, valued at approximately $15,109,000. Eaton accounts for about 1.7% of Pinnbrook Capital Management LP's portfolio, making the stock its 13th largest position.

Other large investors have also modified their holdings of the company. Tennessee Valley Asset Management Partners purchased a new position in shares of Eaton during the 4th quarter worth about $25,000. Clear Investment Research LLC acquired a new stake in Eaton during the 4th quarter worth approximately $29,000. PCA Investment Advisory Services Inc. acquired a new stake in Eaton during the 2nd quarter worth approximately $27,000. Valued Wealth Advisors LLC acquired a new stake in Eaton during the 4th quarter worth approximately $35,000. Finally, Chilton Capital Management LLC acquired a new stake in Eaton during the 4th quarter worth approximately $35,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on ETN. Berenberg Bank increased their target price on shares of Eaton from $200.00 to $345.00 and gave the stock a "buy" rating in a research report on Wednesday, March 6th. UBS Group increased their price objective on shares of Eaton from $255.00 to $305.00 and gave the company a "buy" rating in a research report on Friday, February 2nd. Bank of America increased their price objective on shares of Eaton from $320.00 to $330.00 and gave the company a "buy" rating in a research report on Monday, March 18th. Evercore ISI increased their price objective on shares of Eaton from $262.00 to $308.00 and gave the company an "outperform" rating in a research report on Tuesday, February 20th. Finally, Mizuho increased their price objective on shares of Eaton from $300.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $287.40.


View Our Latest Stock Analysis on Eaton

Insider Activity

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business's stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total value of $5,395,107.50. Following the sale, the insider now directly owns 29,712 shares in the company, valued at $8,116,427.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business's stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total value of $5,395,107.50. Following the sale, the insider now directly owns 29,712 shares in the company, valued at $8,116,427.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Heath B. Monesmith sold 13,027 shares of the business's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the sale, the insider now owns 69,472 shares in the company, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,969 shares of company stock valued at $10,904,774. Company insiders own 0.33% of the company's stock.

Eaton Stock Performance

ETN stock traded down $4.59 during mid-day trading on Monday, reaching $325.92. The company had a trading volume of 2,423,728 shares, compared to its average volume of 1,844,959. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $130.21 billion, a P/E ratio of 40.41, a P/E/G ratio of 2.75 and a beta of 1.07. Eaton Co. plc has a one year low of $155.38 and a one year high of $331.47. The stock's 50-day simple moving average is $290.73 and its two-hundred day simple moving average is $248.01.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.47 by $0.08. The company had revenue of $5.97 billion for the quarter, compared to analysts' expectations of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The firm's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the business posted $2.06 earnings per share. Research analysts anticipate that Eaton Co. plc will post 10.25 EPS for the current year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.15%. This is a positive change from Eaton's previous quarterly dividend of $0.86. The ex-dividend date was Friday, March 8th. Eaton's dividend payout ratio (DPR) is 46.88%.

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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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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