Eudaimonia Advisors LLC Grows Position in Eaton Co. plc (NYSE:ETN)

Eudaimonia Advisors LLC boosted its stake in Eaton Co. plc (NYSE:ETN) by 34.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,799 shares of the industrial products company’s stock after purchasing an additional 1,499 shares during the quarter. Eaton comprises 0.9% of Eudaimonia Advisors LLC’s portfolio, making the stock its 29th largest position. Eudaimonia Advisors LLC’s holdings in Eaton were worth $1,397,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners purchased a new stake in Eaton during the fourth quarter worth approximately $25,000. Valued Wealth Advisors LLC purchased a new stake in Eaton during the fourth quarter worth approximately $35,000. Chilton Capital Management LLC purchased a new stake in Eaton during the fourth quarter worth approximately $35,000. Authentikos Wealth Advisory LLC purchased a new position in shares of Eaton in the third quarter valued at $39,000. Finally, Legacy Financial Group LLC purchased a new position in shares of Eaton in the third quarter valued at $43,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Stock Performance

Shares of NYSE ETN traded up $4.75 during midday trading on Tuesday, hitting $312.84. The company’s stock had a trading volume of 2,781,095 shares, compared to its average volume of 1,925,753. Eaton Co. plc has a 1-year low of $161.12 and a 1-year high of $331.47. The firm’s fifty day moving average price is $301.39 and its 200-day moving average price is $255.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.51. The firm has a market cap of $124.98 billion, a P/E ratio of 38.43, a P/E/G ratio of 2.51 and a beta of 1.07.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.47 by $0.08. The business had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.06 EPS. On average, sell-side analysts forecast that Eaton Co. plc will post 10.28 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.20%. Eaton’s dividend payout ratio (DPR) is currently 46.88%.

Wall Street Analyst Weigh In

ETN has been the subject of several analyst reports. Citigroup upped their target price on shares of Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Evercore ISI upped their target price on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. UBS Group upped their target price on shares of Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Mizuho upped their price target on shares of Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, Bank of America upped their price target on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. One investment 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.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $295.60.

Insider Activity at Eaton

In related news, insider Olivier Leonetti sold 4,461 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the transaction, the insider now directly owns 630 shares of the company’s stock, valued at $171,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Olivier Leonetti sold 4,461 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 630 shares of the company’s stock, valued at $171,360. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,969 shares of company stock valued at $10,904,774. Corporate insiders own 0.33% of the company’s stock.

Eaton Profile

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.