Eudaimonia Advisors LLC Has $1.40 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Eudaimonia Advisors LLC lifted its position in shares of Eaton Co. plc (NYSE:ETN) by 34.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,799 shares of the industrial products company’s stock after buying an additional 1,499 shares during the quarter. Eaton comprises 0.9% of Eudaimonia Advisors LLC’s holdings, making the stock its 29th biggest position. Eudaimonia Advisors LLC’s holdings in Eaton were worth $1,397,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SlateStone Wealth LLC raised its stake in Eaton by 2.4% during the fourth quarter. SlateStone Wealth LLC now owns 6,626 shares of the industrial products company’s stock worth $1,596,000 after acquiring an additional 155 shares in the last quarter. Marks Group Wealth Management Inc acquired a new position in Eaton during the fourth quarter worth about $7,443,000. Illinois Municipal Retirement Fund raised its stake in Eaton by 1.2% during the fourth quarter. Illinois Municipal Retirement Fund now owns 49,947 shares of the industrial products company’s stock worth $12,028,000 after acquiring an additional 579 shares in the last quarter. RWA Wealth Partners LLC raised its stake in Eaton by 34.9% during the fourth quarter. RWA Wealth Partners LLC now owns 13,110 shares of the industrial products company’s stock worth $3,157,000 after acquiring an additional 3,393 shares in the last quarter. Finally, Sage Mountain Advisors LLC raised its stake in Eaton by 3.4% during the fourth quarter. Sage Mountain Advisors LLC now owns 3,239 shares of the industrial products company’s stock worth $780,000 after acquiring an additional 106 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ETN shares. The Goldman Sachs Group boosted their price target on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Citigroup boosted their price target on Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $250.00 to $300.00 in a report on Tuesday, April 2nd. Evercore ISI boosted their price target on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Finally, Royal Bank of Canada upgraded Eaton from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $286.00 to $371.00 in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.60.

Insider Transactions at Eaton

In other news, insider Olivier Leonetti sold 4,461 shares of the company’s stock in a transaction that occurred on 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 directly owns 630 shares of the company’s stock, valued at $171,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Olivier Leonetti sold 4,461 shares of the company’s stock in a transaction that occurred on 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 directly owns 630 shares of the company’s stock, valued at $171,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the sale, the insider now directly owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The disclosure for this sale can be found here. Insiders have sold 38,969 shares of company stock valued at $10,904,774 over the last ninety days. 0.33% of the stock is owned by company insiders.

Eaton Trading Up 1.5 %

ETN traded up $4.75 during trading on Tuesday, hitting $312.84. The company’s stock had a trading volume of 2,781,095 shares, compared to its average volume of 1,925,753. Eaton Co. plc has a twelve month low of $161.12 and a twelve month high of $331.47. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average price is $301.39 and its 200-day moving average price is $255.94. The firm has a market capitalization of $124.98 billion, a P/E ratio of 38.43, a PEG ratio of 2.51 and a beta of 1.07.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.08. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the previous year, the firm earned $2.06 earnings per share. The company’s revenue was up 10.8% compared to the same quarter last year. Analysts anticipate that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.20%. Eaton’s payout ratio is 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.