Diversified LLC Invests $205,000 in Eaton Co. plc (NYSE:ETN)

Diversified LLC acquired a new position in shares of Eaton Co. plc (NYSE:ETN) during the 4th quarter, Holdings Channel reports. The firm acquired 853 shares of the industrial products company’s stock, valued at approximately $205,000.

Several other institutional investors also recently modified their holdings of ETN. Arkadios Wealth Advisors increased its position in Eaton by 9.5% during the 3rd quarter. Arkadios Wealth Advisors now owns 2,116 shares of the industrial products company’s stock worth $451,000 after purchasing an additional 183 shares in the last quarter. Naples Global Advisors LLC increased its position in Eaton by 3.5% during the 3rd quarter. Naples Global Advisors LLC now owns 2,551 shares of the industrial products company’s stock worth $544,000 after purchasing an additional 86 shares in the last quarter. Douglas Lane & Associates LLC acquired a new position in Eaton in the 3rd quarter valued at approximately $276,000. DAVENPORT & Co LLC increased its position in Eaton by 6.6% in the 3rd quarter. DAVENPORT & Co LLC now owns 23,890 shares of the industrial products company’s stock valued at $5,096,000 after acquiring an additional 1,480 shares during the period. Finally, Avior Wealth Management LLC increased its position in Eaton by 69.5% in the 3rd quarter. Avior Wealth Management LLC now owns 222 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 91 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the completion of the transaction, 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 link. In related news, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, the insider now directly owns 5,514 shares in the company, valued at $1,593,380.58. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Olivier Leonetti sold 4,461 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the transaction, the insider now owns 630 shares in the company, valued at $171,360. The disclosure for this sale can be found here. Insiders sold 38,969 shares of company stock worth $10,904,774 over the last three months. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ETN. Wolfe Research restated an “underperform” rating and issued a $312.00 price target on shares of Eaton in a research report on Monday, April 8th. Bank of America upped their price target on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Citigroup upped their price objective on shares of Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Berenberg Bank upped their price objective on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $250.00 to $300.00 in a research note on Tuesday, April 2nd. One equities research 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $295.60.

Eaton Stock Up 1.7 %

Shares of NYSE ETN opened at $308.18 on Tuesday. The firm has a market cap of $123.12 billion, a PE ratio of 38.43, a P/E/G ratio of 2.51 and a beta of 1.07. Eaton Co. plc has a 12-month low of $161.12 and a 12-month high of $331.47. The company’s fifty day simple moving average is $301.39 and its 200 day simple moving average is $255.94. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned $2.06 earnings per share. As a group, sell-side analysts forecast that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were issued a dividend of $0.94 per share. This is a boost from Eaton’s previous quarterly dividend of $0.86. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Friday, March 8th. Eaton’s dividend payout ratio (DPR) is currently 46.88%.

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.