Checchi Capital Advisers LLC Purchases 120 Shares of Eaton Co. plc (NYSE:ETN)

Checchi Capital Advisers LLC increased its stake in Eaton Co. plc (NYSE:ETN – Get Rating) by 2.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,545 shares of the industrial products company’s stock after acquiring an additional 120 shares during the period. Checchi Capital Advisers LLC’s holdings in Eaton were worth $842,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. boosted its holdings in shares of Eaton by 288.6% in the first quarter. Financial Management Professionals Inc. now owns 171 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 127 shares during the period. Hazlett Burt & Watson Inc. acquired a new position in shares of Eaton during the first quarter worth $30,000. Steward Financial Group LLC purchased a new stake in shares of Eaton during the first quarter valued at $32,000. Baldwin Brothers LLC MA grew its holdings in shares of Eaton by 63.0% during the first quarter. Baldwin Brothers LLC MA now owns 220 shares of the industrial products company’s stock valued at $33,000 after buying an additional 85 shares during the last quarter. Finally, Princeton Global Asset Management LLC grew its holdings in shares of Eaton by 588.6% during the first quarter. Princeton Global Asset Management LLC now owns 241 shares of the industrial products company’s stock valued at $37,000 after buying an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 79.10% of the company’s stock.

Eaton Stock Performance

NYSE:ETN opened at $148.65 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.59 and a current ratio of 0.97. Eaton Co. plc has a fifty-two week low of $122.50 and a fifty-two week high of $175.72. The stock has a market capitalization of $59.21 billion, a P/E ratio of 25.76, a PEG ratio of 1.79 and a beta of 1.19. The company has a 50 day moving average price of $134.53 and a 200 day moving average price of $144.12.

Eaton (NYSE:ETN – Get Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.82 by $0.05. Eaton had a net margin of 11.70% and a return on equity of 17.04%. The company had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter last year, the company posted $1.72 EPS. The firm’s revenue was down .1% compared to the same quarter last year. Equities research analysts forecast that Eaton Co. plc will post 7.56 EPS for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 12th will be given a $0.81 dividend. The ex-dividend date is Thursday, August 11th. This represents a $3.24 annualized dividend and a yield of 2.18%. Eaton’s dividend payout ratio is presently 56.15%.

Analyst Ratings Changes

Several equities research analysts have commented on ETN shares. StockNews.com raised shares of Eaton from a “hold” rating to a “buy” rating in a report on Friday, July 8th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Eaton from $178.00 to $156.00 and set a “buy” rating on the stock in a research note on Wednesday, July 13th. Morgan Stanley upped their price target on shares of Eaton from $170.00 to $176.00 and gave the stock an “overweight” rating in a research report on Wednesday. Robert W. Baird set a $144.00 price target on shares of Eaton in a research report on Tuesday. Finally, Royal Bank of Canada upped their price target on shares of Eaton from $139.00 to $145.00 and gave the stock a “sector perform” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $161.33.

Insider Transactions at Eaton

In related news, insider Boise April Miller sold 12,283 shares of the business’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $138.66, for a total transaction of $1,703,160.78. Following the completion of the transaction, the insider now owns 11,435 shares in the company, valued at $1,585,577.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.56% of the company’s stock.

About Eaton

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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.