Schnieders Capital Management LLC Purchases Shares of 936 Eaton Co. plc (NYSE:ETN)

Schnieders Capital Management LLC acquired a new stake in shares of Eaton Co. plc (NYSE:ETN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 936 shares of the industrial products company’s stock, valued at approximately $225,000.

A number of other institutional investors have also recently made changes to their positions in ETN. Tennessee Valley Asset Management Partners purchased a new position in Eaton during the fourth quarter valued at $25,000. Valued Wealth Advisors LLC bought a new position in shares of Eaton during the fourth quarter valued at $35,000. Chilton Capital Management LLC bought a new position in shares of Eaton during the fourth quarter valued at $35,000. Authentikos Wealth Advisory LLC bought a new position in shares of Eaton during the third quarter valued at $39,000. Finally, Fortitude Family Office LLC bought a new position in shares of Eaton during the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock traded up $5.95 during trading hours on Wednesday, reaching $318.79. 3,336,358 shares of the company traded hands, compared to its average volume of 1,943,611. The firm has a 50-day moving average price of $302.20 and a 200 day moving average price of $256.66. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. Eaton Co. plc has a 12-month low of $161.12 and a 12-month high of $331.47. The company has a market cap of $127.36 billion, a P/E ratio of 39.02, a P/E/G ratio of 2.55 and a beta of 1.07.

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

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.18%. Eaton’s dividend payout ratio is 46.88%.

Insiders Place Their Bets

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was 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 in the company, valued at approximately $8,116,427.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the completion of the sale, the insider now directly owns 29,712 shares in the company, valued at approximately $8,116,427.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Denk sold 1,731 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the sale, the insider now owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,969 shares of company stock worth $10,904,774. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ETN shares. The Goldman Sachs Group raised their price target on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a report on Friday, March 15th. Royal Bank of Canada upgraded Eaton from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $286.00 to $371.00 in a report on Friday, April 5th. Bank of America lifted their price objective on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Wolfe Research reiterated an “underperform” rating and issued a $312.00 price objective on shares of Eaton in a report on Monday, April 8th. Finally, Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $250.00 to $300.00 in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $295.60.

Eaton Company 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.