Eaton Co. plc (NYSE:ETN) Shares Purchased by Moseley Investment Management Inc.

Moseley Investment Management Inc. increased its stake in shares of Eaton Co. plc (NYSE:ETN) by 15.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,023 shares of the industrial products company’s stock after purchasing an additional 3,190 shares during the period. Eaton accounts for about 2.6% of Moseley Investment Management Inc.’s holdings, making the stock its 9th biggest position. Moseley Investment Management Inc.’s holdings in Eaton were worth $6,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Bearing Point Capital LLC acquired a new position in shares of Eaton during the 4th quarter worth approximately $2,713,000. Strategic Financial Concepts LLC acquired a new position in shares of Eaton during the 4th quarter worth approximately $38,000. Kennebec Savings Bank raised its position in shares of Eaton by 5.4% during the 1st quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company’s stock worth $738,000 after purchasing an additional 139 shares during the last quarter. American National Bank & Trust grew its stake in Eaton by 5.4% in the 1st quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company’s stock worth $855,000 after acquiring an additional 162 shares during the period. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Eaton in the 4th quarter worth approximately $161,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Michael Yelton sold 2,120 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider now directly owns 3,382 shares of the company’s stock, valued at $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Arnold sold 51,054 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the sale, the insider now directly owns 489,444 shares of the company’s stock, valued at approximately $149,490,880.92. This represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock worth $49,622,894 over the last three months. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ETN. Citigroup lifted their target price on shares of Eaton from $323.00 to $351.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Evercore ISI boosted their price objective on shares of Eaton from $326.00 to $349.00 and gave the company an “in-line” rating in a research note on Monday, May 19th. Barclays boosted their price objective on shares of Eaton from $306.00 to $323.00 and gave the company an “equal weight” rating in a research note on Monday. Wall Street Zen raised shares of Eaton from a “hold” rating to a “buy” rating in a research note on Sunday, May 18th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Eaton from $300.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $368.78.

Eaton Price Performance

NYSE ETN opened at $325.61 on Tuesday. The company has a 50-day moving average price of $298.94 and a two-hundred day moving average price of $315.59. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The stock has a market cap of $127.41 billion, a price-to-earnings ratio of 34.27, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16. Eaton Co. plc has a 52 week low of $231.85 and a 52 week high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.02. The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $2.40 earnings per share. Analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Monday, May 5th. Eaton’s dividend payout ratio (DPR) is presently 41.98%.

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.