InterOcean Capital Group LLC Raises Stake in Eaton Co. plc (NYSE:ETN)

InterOcean Capital Group LLC raised its position in Eaton Co. plc (NYSE:ETN) by 1.6% in the 4th quarter, Holdings Channel reports. The firm owned 3,683 shares of the industrial products company’s stock after buying an additional 59 shares during the quarter. InterOcean Capital Group LLC’s holdings in Eaton were worth $887,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Eaton by 3,435.0% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 707 shares of the industrial products company’s stock worth $153,000 after purchasing an additional 687 shares during the period. Signaturefd LLC increased its position in shares of Eaton by 11.7% in the third quarter. Signaturefd LLC now owns 10,969 shares of the industrial products company’s stock valued at $2,339,000 after acquiring an additional 1,149 shares during the period. Syon Capital LLC purchased a new position in shares of Eaton in the third quarter valued at about $972,000. NBC Securities Inc. purchased a new position in shares of Eaton in the third quarter valued at about $255,000. Finally, Breakwater Capital Group increased its position in shares of Eaton by 13.4% in the third quarter. Breakwater Capital Group now owns 2,160 shares of the industrial products company’s stock valued at $464,000 after acquiring an additional 256 shares during the period. 82.97% of the stock is owned by institutional investors.

Insider Transactions at Eaton

In related news, insider Peter Denk sold 2,416 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total value of $801,725.44. Following the transaction, the insider now owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Eaton news, insider Peter Denk sold 2,416 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total transaction of $801,725.44. Following the transaction, the insider now owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction dated 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 directly owns 69,472 shares in the company, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,174 shares of company stock worth $5,098,000. 0.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ETN. Berenberg Bank boosted their price objective on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. HSBC boosted their price objective on shares of Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. Barclays upgraded shares of 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 report on Tuesday, April 2nd. Bank of America boosted 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. Finally, The Goldman Sachs Group boosted their price objective on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Eaton Price Performance

Shares of NYSE ETN traded up $3.58 during midday trading on Thursday, reaching $339.76. The stock had a trading volume of 371,316 shares, compared to its average volume of 1,967,207. The stock has a 50-day moving average of $318.69 and a 200-day moving average of $274.05. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. The company has a market capitalization of $135.84 billion, a price-to-earnings ratio of 39.68, a price-to-earnings-growth ratio of 2.82 and a beta of 1.06. Eaton Co. plc has a 12-month low of $167.33 and a 12-month high of $344.00.

Eaton (NYSE:ETN) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.28 by $0.12. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the business earned $1.88 earnings per share. Eaton’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, research analysts anticipate that Eaton Co. plc will post 10.56 EPS for the current fiscal year.

Eaton Announces Dividend

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 issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.11%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

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.