Eaton Co. plc (NYSE:ETN) Shares Acquired by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Eaton Co. plc (NYSE:ETNFree Report) by 13.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,458 shares of the industrial products company’s stock after buying an additional 174 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Eaton were worth $351,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ETN. PCA Investment Advisory Services Inc. acquired a new stake in shares of Eaton during the second quarter worth about $27,000. Coppell Advisory Solutions Corp. purchased a new position in Eaton during the fourth quarter worth about $30,000. Global Trust Asset Management LLC purchased a new position in Eaton during the third quarter worth about $32,000. Valued Wealth Advisors LLC purchased a new position in Eaton during the fourth quarter worth about $35,000. Finally, Chilton Capital Management LLC purchased a new position in Eaton during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction on 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 transaction, the insider now owns 29,712 shares in the company, valued at approximately $8,116,427.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the transaction, the insider now owns 29,712 shares in the company, valued at approximately $8,116,427.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction on Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the transaction, 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. Insiders have sold a total of 38,969 shares of company stock worth $10,904,774 in the last quarter. 0.53% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on ETN shares. Evercore ISI increased their target price on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Citigroup increased their target price on shares of Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Royal Bank of Canada increased their target price on shares of Eaton from $246.00 to $286.00 and gave the company a “sector perform” rating in a report on Thursday, March 14th. Berenberg Bank increased their target price on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, Wells Fargo & Company increased their target price on shares of Eaton from $220.00 to $257.00 and gave the company an “equal weight” rating in a report on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus price target of $274.20.

Read Our Latest Stock Analysis on Eaton

Eaton Stock Down 0.5 %

Shares of NYSE ETN opened at $312.68 on Monday. Eaton Co. plc has a 1 year low of $155.38 and a 1 year high of $317.02. The firm’s 50 day moving average price is $283.16 and its 200 day moving average price is $244.26. The firm has a market cap of $124.92 billion, a P/E ratio of 38.99, a price-to-earnings-growth ratio of 2.59 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.51.

Eaton (NYSE:ETNGet Free Report) last announced its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the business earned $2.06 earnings per share. Eaton’s revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Eaton Co. plc will post 10.25 earnings per share for the current year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Friday, March 8th. This is a positive change from Eaton’s previous quarterly dividend of $0.86. Eaton’s dividend payout ratio (DPR) is 46.88%.

Eaton Profile

(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.

See Also

Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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