Benjamin F. Edwards & Company Inc. boosted its stake in Eaton Co. plc (NYSE:ETN – Get Rating) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,771 shares of the industrial products company’s stock after acquiring an additional 157 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Eaton were worth $1,220,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Horan Securities Inc. raised its stake in shares of Eaton by 228.6% during the fourth quarter. Horan Securities Inc. now owns 161 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 112 shares during the last quarter. Hollencrest Capital Management acquired a new position in Eaton in the 4th quarter valued at $28,000. RFP Financial Group LLC purchased a new position in Eaton during the 4th quarter worth $30,000. WFA of San Diego LLC purchased a new stake in shares of Eaton in the fourth quarter valued at about $31,000. Finally, Capital Directions Investment Advisors LLC acquired a new position in shares of Eaton during the fourth quarter worth about $31,000. 80.19% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on ETN. Mizuho boosted their target price on Eaton from $168.00 to $180.00 in a research report on Wednesday. UBS Group raised their target price on Eaton from $173.00 to $197.00 in a report on Tuesday, March 14th. Bank of America boosted their target price on shares of Eaton from $180.00 to $200.00 in a research report on Wednesday, March 8th. Morgan Stanley increased their price target on shares of Eaton from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Eaton from $188.00 to $189.00 and gave the stock a “buy” rating in a research report on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.17.
Eaton Trading Down 0.5 %
Eaton stock opened at $172.38 on Thursday. The stock has a 50-day moving average price of $166.87 and a 200 day moving average price of $162.04. The company has a current ratio of 1.38, a quick ratio of 0.84 and a debt-to-equity ratio of 0.49. The stock has a market cap of $68.70 billion, a PE ratio of 28.03, a P/E/G ratio of 1.85 and a beta of 1.12. Eaton Co. plc has a 52 week low of $122.50 and a 52 week high of $178.75.
Eaton (NYSE:ETN – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The industrial products company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.10. The company had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.23 billion. Eaton had a return on equity of 18.31% and a net margin of 11.86%. Eaton’s revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.62 EPS. Equities research analysts predict that Eaton Co. plc will post 8.25 earnings per share for the current fiscal year.
Eaton Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Monday, May 8th will be issued a $0.86 dividend. The ex-dividend date of this dividend is Friday, May 5th. This represents a $3.44 dividend on an annualized basis and a yield of 2.00%. Eaton’s payout ratio is 55.93%.
Insider Buying and Selling
In related news, insider Joao V. Faria sold 2,000 shares of the stock in a transaction on Friday, February 10th. The stock was sold at an average price of $169.00, for a total value of $338,000.00. Following the transaction, the insider now directly owns 67,166 shares of the company’s stock, valued at approximately $11,351,054. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Joao V. Faria sold 2,000 shares of the firm’s stock in a transaction on Friday, February 10th. The shares were sold at an average price of $169.00, for a total value of $338,000.00. Following the transaction, the insider now owns 67,166 shares of the company’s stock, valued at approximately $11,351,054. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joao V. Faria sold 2,326 shares of the company’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $171.23, for a total transaction of $398,280.98. Following the sale, the insider now directly owns 77,626 shares of the company’s stock, valued at $13,291,899.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,377 shares of company stock valued at $5,864,193. Insiders own 0.53% of the company’s stock.
Eaton Company Profile
Eaton Corp. Plc is a power management company, which provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through the following segments: Electrical Americas and Electrical Global, Aerospace, Vehicle, and eMobility. The Electrical Americas and Electrical Global segments engage in sales contracts for electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and service.
Further Reading
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