Apollon Wealth Management LLC Raises Holdings in Eaton Co. plc (NYSE:ETN)

Apollon Wealth Management LLC grew its holdings in Eaton Co. plc (NYSE:ETN) by 12.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,391 shares of the industrial products company’s stock after purchasing an additional 2,079 shares during the period. Apollon Wealth Management LLC’s holdings in Eaton were worth $4,429,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of ETN. Vanguard Group Inc. increased its stake in Eaton by 0.5% during the third quarter. Vanguard Group Inc. now owns 36,336,041 shares of the industrial products company’s stock worth $7,749,751,000 after purchasing an additional 176,900 shares during the period. FMR LLC raised its holdings in Eaton by 36.0% during the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock worth $4,248,960,000 after purchasing an additional 5,270,331 shares in the last quarter. Northern Trust Corp lifted its position in shares of Eaton by 2.2% during the 3rd quarter. Northern Trust Corp now owns 5,009,435 shares of the industrial products company’s stock worth $1,068,412,000 after buying an additional 109,775 shares during the last quarter. Raymond James & Associates grew its position in shares of Eaton by 3.8% in the 4th quarter. Raymond James & Associates now owns 3,739,725 shares of the industrial products company’s stock valued at $900,600,000 after buying an additional 138,465 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Eaton by 97.5% in the 3rd quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock valued at $396,767,000 after purchasing an additional 918,422 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Stock Performance

Shares of NYSE ETN traded up $6.90 during mid-day trading on Monday, hitting $327.40. The company had a trading volume of 1,296,563 shares, compared to its average volume of 2,028,111. The stock has a market cap of $130.89 billion, a price-to-earnings ratio of 38.65, a PEG ratio of 2.54 and a beta of 1.06. The firm’s 50 day simple moving average is $309.54 and its two-hundred day simple moving average is $263.61. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05. Eaton Co. plc has a 12 month low of $165.24 and a 12 month high of $333.05.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. The company had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.88 EPS. As a group, equities research analysts forecast that Eaton Co. plc will post 10.45 earnings per share for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Friday, May 3rd. Eaton’s payout ratio is 44.39%.

Insider Activity

In other news, 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 value of $1,213,392.00. Following the transaction, the insider now directly owns 630 shares of the company’s stock, valued at approximately $171,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the sale, the insider now directly owns 630 shares in the company, valued at $171,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the sale, the insider now owns 69,472 shares in the company, valued at $20,244,140.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,969 shares of company stock valued at $10,904,774. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group boosted their price objective on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Argus raised their price target on shares of Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday. Berenberg Bank increased their target price on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Royal Bank of Canada upgraded Eaton from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $286.00 to $371.00 in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

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.