US Asset Management LLC Buys Shares of 2,928 Eaton Co. plc (NYSE:ETN)

US Asset Management LLC purchased a new position in shares of Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,928 shares of the industrial products company’s stock, valued at approximately $705,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ritholtz Wealth Management grew its holdings in shares of Eaton by 5.1% during the fourth quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock worth $1,379,000 after purchasing an additional 277 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Eaton by 30.5% during the fourth quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock worth $8,205,000 after purchasing an additional 7,964 shares during the last quarter. Chicago Capital LLC bought a new stake in shares of Eaton during the fourth quarter worth about $2,958,000. Spire Wealth Management lifted its stake in shares of Eaton by 66.0% in the fourth quarter. Spire Wealth Management now owns 14,914 shares of the industrial products company’s stock worth $3,648,000 after acquiring an additional 5,932 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in shares of Eaton in the third quarter worth approximately $479,000. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Heath B. Monesmith sold 13,027 shares of the company’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 completion of the sale, the insider now owns 69,472 shares in the company, valued at $20,244,140.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the transaction, the insider now owns 69,472 shares in the company, valued at approximately $20,244,140.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Olivier Leonetti sold 4,461 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the transaction, the insider now owns 630 shares of the company’s stock, valued at approximately $171,360. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,635 shares of company stock worth $6,311,392. 0.33% of the stock is owned by corporate insiders.

Eaton Stock Down 0.1 %

Shares of NYSE ETN traded down $0.20 during midday trading on Friday, hitting $333.06. 712,801 shares of the stock traded hands, compared to its average volume of 1,998,510. The company has a market cap of $133.16 billion, a PE ratio of 39.28, a P/E/G ratio of 2.54 and a beta of 1.06. Eaton Co. plc has a one year low of $165.24 and a one year high of $337.70. The business has a 50 day moving average price of $312.17 and a two-hundred day moving average price of $265.48. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56.

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 the consensus estimate of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the company posted $1.88 earnings per share. Eaton’s revenue was up 8.4% compared to the same quarter last year. On average, equities analysts predict that Eaton Co. plc will post 10.45 EPS for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, May 3rd. This represents a $3.76 annualized dividend and a yield of 1.13%. Eaton’s dividend payout ratio (DPR) is currently 44.39%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Argus lifted their price objective on Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. lifted their price objective on Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Berenberg Bank boosted their price target on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Mizuho reissued a “buy” rating and issued a $355.00 price target (up from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. Finally, Citigroup boosted their price target on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Eaton Company 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.