Eaton Co. plc (NYSE:ETN) Shares Bought by Apollon Wealth Management LLC

Apollon Wealth Management LLC increased its position in Eaton Co. plc (NYSE:ETN) by 12.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,391 shares of the industrial products company’s stock after buying an additional 2,079 shares during the period. Apollon Wealth Management LLC’s holdings in Eaton were worth $4,429,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Stratos Wealth Advisors LLC increased its position in Eaton by 5.8% during the third quarter. Stratos Wealth Advisors LLC now owns 1,496 shares of the industrial products company’s stock worth $319,000 after purchasing an additional 82 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new stake in Eaton during the third quarter valued at about $351,000. Brown Advisory Inc. increased its stake in Eaton by 5.3% during the third quarter. Brown Advisory Inc. now owns 37,399 shares of the industrial products company’s stock worth $7,977,000 after acquiring an additional 1,871 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Eaton by 15.7% in the 3rd quarter. Lindbrook Capital LLC now owns 2,347 shares of the industrial products company’s stock worth $501,000 after purchasing an additional 319 shares during the period. Finally, GPS Wealth Strategies Group LLC grew its holdings in shares of Eaton by 24.5% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 2,188 shares of the industrial products company’s stock worth $467,000 after purchasing an additional 431 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ETN shares. Royal Bank of Canada raised shares of Eaton from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $286.00 to $371.00 in a research report on Friday, April 5th. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Bank of America raised their target price on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. JPMorgan Chase & Co. raised their price target on shares of Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, Mizuho reissued a “buy” rating and set a $355.00 price objective (up from $340.00) on shares of Eaton in a report on Wednesday, May 1st. One 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $314.27.

Eaton Price Performance

Eaton stock traded up $6.90 during trading hours on Monday, hitting $327.40. 1,296,563 shares of the company traded hands, compared to its average volume of 2,028,111. Eaton Co. plc has a 1-year low of $165.24 and a 1-year high of $333.05. The firm has a market cap of $130.89 billion, a P/E ratio of 38.65, a P/E/G ratio of 2.54 and a beta of 1.06. The firm’s 50-day simple moving average is $309.54 and its two-hundred day simple moving average is $263.61. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42.

Eaton (NYSE:ETN) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the company earned $1.88 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, analysts forecast that Eaton Co. plc will post 10.45 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 29,712 shares in the company, valued at $8,116,427.04. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’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 owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Peter Denk sold 1,731 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the sale, the insider now directly 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 three months, insiders sold 38,969 shares of company stock valued at $10,904,774. 0.53% of the stock is owned by insiders.

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.