2,928 Shares in Eaton Co. plc (NYSE:ETN) Bought by US Asset Management LLC

US Asset Management LLC purchased a new position in shares of Eaton Co. plc (NYSE:ETN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,928 shares of the industrial products company’s stock, valued at approximately $705,000.

A number of other hedge funds have also made changes to their positions in the business. Tennessee Valley Asset Management Partners acquired a new stake in Eaton during the fourth quarter worth approximately $25,000. Valued Wealth Advisors LLC acquired a new position in Eaton in the fourth quarter valued at $35,000. Chilton Capital Management LLC purchased a new position in shares of Eaton during the fourth quarter worth about $35,000. Authentikos Wealth Advisory LLC acquired a new stake in shares of Eaton during the third quarter worth about $39,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Eaton in the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Shares of NYSE ETN traded down $0.20 during midday trading on Friday, hitting $333.06. The company had a trading volume of 712,801 shares, compared to its average volume of 1,998,510. Eaton Co. plc has a twelve month low of $165.24 and a twelve month high of $337.70. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $133.16 billion, a price-to-earnings ratio of 39.28, a price-to-earnings-growth ratio of 2.54 and a beta of 1.06. The business has a 50-day simple moving average of $312.17 and a two-hundred day simple moving average of $265.48.

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

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders 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 yield of 1.13%. The ex-dividend date is Friday, May 3rd. Eaton’s payout ratio is currently 44.39%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wolfe Research reissued an “underperform” rating and issued a $312.00 price objective on shares of Eaton in a report on Monday, April 8th. Argus lifted their price objective on shares of Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. increased their target price on shares of Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Citigroup upped their price objective on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Evercore ISI boosted their target price on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Insider Buying and Selling at Eaton

In related news, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the transaction, the insider now directly owns 69,472 shares in the company, valued at approximately $20,244,140.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the transaction, the insider now owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Olivier Leonetti sold 4,461 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the transaction, the insider now owns 630 shares of the company’s stock, valued at $171,360. The disclosure for this sale can be found here. Insiders have sold 21,635 shares of company stock valued at $6,311,392 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

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.