Central Valley Advisors LLC Invests $1.88 Million in Eaton Co. plc (NYSE:ETN)

Central Valley Advisors LLC bought a new stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 7,805 shares of the industrial products company's stock, valued at approximately $1,879,000. Eaton comprises about 1.1% of Central Valley Advisors LLC's holdings, making the stock its 19th biggest position.

A number of other institutional investors also recently made changes to their positions in the stock. Ritholtz Wealth Management boosted its holdings in shares of Eaton by 5.1% during the fourth 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 during the last quarter. Pacer Advisors Inc. grew its holdings in Eaton by 30.5% in the 4th quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company's stock valued at $8,205,000 after buying an additional 7,964 shares during the period. Chicago Capital LLC acquired a new position in Eaton during the fourth quarter worth approximately $2,958,000. Spire Wealth Management raised its stake in Eaton by 66.0% during the fourth quarter. Spire Wealth Management now owns 14,914 shares of the industrial products company's stock worth $3,648,000 after purchasing an additional 5,932 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in shares of Eaton in the 3rd quarter valued at $479,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ETN. Evercore ISI lifted their target price on Eaton from $262.00 to $308.00 and gave the company an "outperform" rating in a report on Tuesday, February 20th. Royal Bank of Canada upgraded shares of Eaton from a "sector perform" rating to an "outperform" rating and raised their price target for the company from $286.00 to $371.00 in a report on Friday, April 5th. Bank of America increased their price objective on shares of Eaton from $320.00 to $330.00 and gave the stock a "buy" rating in a research report on Monday, March 18th. Argus upped their price target on shares of Eaton from $290.00 to $350.00 and gave the stock a "buy" rating in a research report on Thursday, May 2nd. Finally, The Goldman Sachs Group increased their target price on Eaton from $287.00 to $328.00 and gave the company a "buy" rating in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, Eaton currently has a consensus rating of "Moderate Buy" and an average target price of $314.27.

Insider Buying and Selling

In related news, insider Peter Denk sold 1,731 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the transaction, the insider now owns 5,514 shares in the company, valued at approximately $1,593,380.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Peter Denk sold 1,731 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the sale, the insider now owns 5,514 shares in the company, valued at $1,593,380.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the company's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the transaction, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The disclosure for this sale can be found here. Insiders have sold 17,174 shares of company stock worth $5,098,000 in the last three months. 0.53% of the stock is currently owned by insiders.

Eaton Price Performance

ETN traded up $3.48 during trading on Tuesday, reaching $336.73. The stock had a trading volume of 1,389,217 shares, compared to its average volume of 1,988,188. Eaton Co. plc has a 1-year low of $167.33 and a 1-year high of $338.88. The firm has a market capitalization of $134.62 billion, a price-to-earnings ratio of 39.34, a price-to-earnings-growth ratio of 2.58 and a beta of 1.06. The stock has a 50 day moving average of $317.19 and a two-hundred day moving average of $272.76. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The business had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.91 billion. During the same quarter last year, the business posted $1.88 earnings per share. The company's quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities analysts anticipate that Eaton Co. plc will post 10.56 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be given a $0.94 dividend. The ex-dividend date is Friday, May 3rd. This represents a $3.76 annualized dividend and a yield of 1.12%. Eaton's dividend payout ratio (DPR) is 44.39%.

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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