Baxter Bros Inc. Has $2.12 Million Position in Eaton Co. plc (NYSE:ETN)

Baxter Bros Inc. lowered its position in Eaton Co. plc (NYSE:ETN) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,808 shares of the industrial products company’s stock after selling 100 shares during the period. Baxter Bros Inc.’s holdings in Eaton were worth $2,121,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ETN. Cambridge Investment Research Advisors Inc. lifted its position in shares of Eaton by 6.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 62,359 shares of the industrial products company’s stock worth $13,300,000 after purchasing an additional 3,648 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Eaton by 4.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 105,233 shares of the industrial products company’s stock worth $22,444,000 after purchasing an additional 4,048 shares during the last quarter. Simon Quick Advisors LLC acquired a new stake in shares of Eaton in the 3rd quarter valued at approximately $228,000. Stratos Wealth Partners LTD. grew its stake in shares of Eaton by 6.3% in the third quarter. Stratos Wealth Partners LTD. now owns 22,305 shares of the industrial products company’s stock valued at $4,757,000 after buying an additional 1,329 shares in the last quarter. Finally, Stratos Wealth Advisors LLC increased its holdings in Eaton by 5.8% during the third quarter. Stratos Wealth Advisors LLC now owns 1,496 shares of the industrial products company’s stock worth $319,000 after buying an additional 82 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on ETN shares. Bank of America lifted their price target on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Wolfe Research restated an “underperform” rating and set a $312.00 price objective on shares of Eaton in a report on Monday, April 8th. Argus upped their price objective on Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a report on Thursday. Finally, The Goldman Sachs Group lifted their target price on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, March 15th. 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Eaton Price Performance

Shares of ETN stock traded up $6.15 on Friday, reaching $320.50. The company had a trading volume of 1,769,790 shares, compared to its average volume of 2,741,837. The stock has a market capitalization of $128.14 billion, a PE ratio of 37.84, a price-to-earnings-growth ratio of 2.54 and a beta of 1.06. The company has a quick ratio of 1.02, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. The business’s 50-day moving average is $308.68 and its 200 day moving average is $261.94. Eaton Co. plc has a one year low of $165.24 and a one year high of $333.05.

Eaton (NYSE:ETN) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $1.88 earnings per share. Equities research analysts forecast that Eaton Co. plc will post 10.45 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. 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 1.17%. Eaton’s dividend payout ratio is presently 44.39%.

Insider Activity

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 29,712 shares in the company, valued at approximately $8,116,427.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Heath B. Monesmith sold 13,027 shares of the business’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 owns 69,472 shares in the company, valued at $20,244,140.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the transaction, the insider now directly owns 29,712 shares of the company’s stock, valued at $8,116,427.04. 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. 0.53% of the stock is currently owned by corporate 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.