Van Leeuwen & Company LLC Purchases 3,032 Shares of Eaton Co. plc (NYSE:ETN)

Van Leeuwen & Company LLC lifted its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 102.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,989 shares of the industrial products company's stock after acquiring an additional 3,032 shares during the quarter. Van Leeuwen & Company LLC's holdings in Eaton were worth $1,442,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Meeder Asset Management Inc. raised its stake in shares of Eaton by 3.3% in the 4th quarter. Meeder Asset Management Inc. now owns 1,315 shares of the industrial products company's stock valued at $317,000 after purchasing an additional 42 shares in the last quarter. Telemus Capital LLC grew its position in shares of Eaton by 1.0% in the 4th quarter. Telemus Capital LLC now owns 4,111 shares of the industrial products company's stock worth $990,000 after acquiring an additional 42 shares in the last quarter. Amarillo National Bank increased its holdings in shares of Eaton by 3.5% in the 4th quarter. Amarillo National Bank now owns 1,270 shares of the industrial products company's stock valued at $306,000 after acquiring an additional 43 shares during the last quarter. Monument Capital Management raised its position in shares of Eaton by 1.9% during the 4th quarter. Monument Capital Management now owns 2,415 shares of the industrial products company's stock valued at $582,000 after acquiring an additional 44 shares in the last quarter. Finally, Red Spruce Capital LLC lifted its stake in Eaton by 0.3% during the fourth quarter. Red Spruce Capital LLC now owns 17,522 shares of the industrial products company's stock worth $4,220,000 after purchasing an additional 45 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Price Performance

NYSE:ETN traded down $2.72 during mid-day trading on Friday, reaching $330.54. 1,955,043 shares of the stock were exchanged, compared to its average volume of 2,012,484. Eaton Co. plc has a 1-year low of $165.24 and a 1-year high of $337.70. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $132.15 billion, a PE ratio of 39.28, a PEG ratio of 2.54 and a beta of 1.06. The business has a fifty day moving average price of $312.17 and a 200 day moving average price of $265.48.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, topping analysts' consensus estimates of $2.28 by $0.12. The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.88 EPS. Research analysts expect that Eaton Co. plc will post 10.45 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton's dividend payout ratio is 44.39%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ETN. 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 lifted their target price on Eaton from $320.00 to $330.00 and gave the company a "buy" rating in a research note on Monday, March 18th. Mizuho reissued a "buy" rating and issued a $355.00 price target (up previously from $340.00) on shares of Eaton in a report on Wednesday, May 1st. Argus upped their price objective on Eaton from $290.00 to $350.00 and gave the stock a "buy" rating in a research note on Thursday, May 2nd. Finally, Evercore ISI raised their target price on Eaton from $262.00 to $308.00 and gave the company an "outperform" rating in a research note on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Eaton presently has an average rating of "Moderate Buy" and a consensus target price of $314.27.

Insider Activity at Eaton

In other news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total value of $801,725.44. Following the transaction, the insider now directly owns 5,086 shares of the company's stock, valued at $1,687,738.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total transaction of $801,725.44. Following the transaction, the insider now owns 5,086 shares in the company, valued at $1,687,738.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heath B. Monesmith sold 13,027 shares of the 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 completion of the sale, the insider now directly owns 69,472 shares of the company's stock, valued at $20,244,140.80. The disclosure for this sale can be found here. Insiders sold 21,635 shares of company stock worth $6,311,392 in the last quarter. 0.33% of the stock is 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.