CVA Family Office LLC Has $156,000 Stake in Eaton Co. plc (NYSE:ETN)


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CVA Family Office LLC boosted its stake in Eaton Co. plc (NYSE:ETN) by 37.2% in the first quarter, HoldingsChannel reports. The firm owned 1,128 shares of the industrial products company’s stock after acquiring an additional 306 shares during the period. CVA Family Office LLC’s holdings in Eaton were worth $156,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Norges Bank acquired a new position in Eaton during the fourth quarter valued at approximately $1,045,205,000. Lazard Asset Management LLC raised its stake in Eaton by 624.2% in the fourth quarter. Lazard Asset Management LLC now owns 905,233 shares of the industrial products company’s stock valued at $108,754,000 after buying an additional 780,239 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Eaton by 9.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,809,749 shares of the industrial products company’s stock worth $697,984,000 after purchasing an additional 489,453 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Eaton by 12.1% in the 4th quarter. Wells Fargo & Company MN now owns 3,223,176 shares of the industrial products company’s stock valued at $387,233,000 after purchasing an additional 349,100 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Eaton by 338.0% in the 4th quarter. Clearbridge Investments LLC now owns 399,061 shares of the industrial products company’s stock worth $47,943,000 after acquiring an additional 307,960 shares in the last quarter. 77.88% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Uday Yadav sold 11,769 shares of the stock in a transaction that occurred on Thursday, February 25th. The stock was sold at an average price of $132.17, for a total transaction of $1,555,508.73. Following the sale, the insider now owns 22,436 shares of the company’s stock, valued at $2,965,366.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian S. Brickhouse sold 22,758 shares of the stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $135.80, for a total value of $3,090,536.40. Following the sale, the insider now directly owns 15,587 shares in the company, valued at approximately $2,116,714.60. The disclosure for this sale can be found here. Insiders sold a total of 36,740 shares of company stock worth $4,945,066 over the last three months. 0.54% of the stock is owned by company insiders.

ETN has been the subject of several research reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their target price on shares of Eaton from $142.00 to $158.00 and gave the stock a “buy” rating in a research report on Wednesday, March 31st. Barclays increased their price target on shares of Eaton from $115.00 to $125.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 6th. Zacks Investment Research cut shares of Eaton from a “buy” rating to a “hold” rating and set a $150.00 price target on the stock. in a report on Tuesday, April 6th. Jefferies Financial Group raised their price objective on shares of Eaton from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, January 15th. Finally, HSBC upgraded shares of Eaton from a “hold” rating to a “buy” rating and lifted their price target for the company from $103.00 to $140.00 in a report on Tuesday, February 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $136.94.

ETN opened at $140.80 on Friday. Eaton Co. plc has a 52-week low of $70.54 and a 52-week high of $143.29. The company has a market cap of $56.09 billion, a price-to-earnings ratio of 41.41, a PEG ratio of 2.34 and a beta of 1.12. The firm’s fifty day simple moving average is $137.33 and its two-hundred day simple moving average is $121.74. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.48.

Eaton (NYSE:ETN) last announced its earnings results on Monday, February 1st. The industrial products company reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.08. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.62 billion. Eaton had a net margin of 7.53% and a return on equity of 11.94%. Eaton’s revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.37 earnings per share. On average, research analysts forecast that Eaton Co. plc will post 4.17 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 30th. Investors of record on Tuesday, March 16th were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Monday, March 15th. This represents a $3.04 annualized dividend and a yield of 2.16%. This is a boost from Eaton’s previous quarterly dividend of $0.73. Eaton’s dividend payout ratio (DPR) is currently 53.62%.

Eaton Profile

Eaton Corporation plc operates as a power management company. Its Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services in North and South America, as well as hazardous duty electrical, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems internationally.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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