25,922 Shares in Eaton Co. plc (NYSE:ETN) Purchased by Berry Wealth Group LP

Berry Wealth Group LP purchased a new stake in Eaton Co. plc (NYSE:ETN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,922 shares of the industrial products company's stock, valued at approximately $6,243,000. Eaton makes up 5.7% of Berry Wealth Group LP's holdings, making the stock its 3rd biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Ritholtz Wealth Management increased its position in Eaton by 5.1% during the 4th quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company's stock worth $1,379,000 after purchasing an additional 277 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Eaton by 30.5% during the 4th quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company's stock worth $8,205,000 after purchasing an additional 7,964 shares during the period. Chicago Capital LLC purchased a new stake in Eaton in the 4th quarter valued at about $2,958,000. Neo Ivy Capital Management purchased a new stake in Eaton during the third quarter valued at about $479,000. Finally, Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Eaton by 13.6% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,458 shares of the industrial products company's stock valued at $351,000 after acquiring an additional 174 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Trading Down 2.0 %

Shares of ETN stock traded down $6.23 during trading hours on Wednesday, hitting $312.03. 3,416,668 shares of the company's stock traded hands, compared to its average volume of 2,028,208. The stock has a market cap of $124.66 billion, a PE ratio of 39.19, a price-to-earnings-growth ratio of 2.71 and a beta of 1.07. The stock's 50 day simple moving average is $306.65 and its 200 day simple moving average is $260.44. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. Eaton Co. plc has a 12 month low of $165.24 and a 12 month high of $333.05.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.28 by $0.12. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.88 EPS. On average, sell-side analysts anticipate that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.21%. Eaton's dividend payout ratio (DPR) is presently 46.88%.

Insider Activity

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the transaction, the insider now owns 29,712 shares in the company, valued at $8,116,427.04. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Olivier Leonetti sold 4,461 shares of the company's stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the transaction, the insider now owns 630 shares of the company's stock, valued at approximately $171,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the sale, the insider now directly owns 29,712 shares of the company's stock, valued at approximately $8,116,427.04. The disclosure for this sale can be found here. Insiders sold a total of 38,969 shares of company stock worth $10,904,774 in the last three months. Company insiders own 0.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ETN shares. Berenberg Bank upped their price target on shares of Eaton from $200.00 to $345.00 and gave the company a "buy" rating in a report on Wednesday, March 6th. Citigroup lifted their price objective on shares of Eaton from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Friday, February 2nd. Barclays upgraded shares of Eaton from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Bank of America raised their target price on shares of Eaton from $320.00 to $330.00 and gave the stock a "buy" rating in a report on Monday, March 18th. Finally, The Goldman Sachs Group boosted their price objective on Eaton from $287.00 to $328.00 and gave the company a "buy" rating in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $302.93.

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.