Brooklyn Investment Group Increases Position in Eaton Co. plc (NYSE:ETN)

Brooklyn Investment Group boosted its holdings in Eaton Co. plc (NYSE:ETN) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,141 shares of the industrial products company’s stock after purchasing an additional 54 shares during the quarter. Brooklyn Investment Group’s holdings in Eaton were worth $1,374,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ETN. Strategic Wealth Partners Ltd. lifted its position in shares of Eaton by 3.0% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 30 shares during the period. Fairfield Financial Advisors LTD lifted its position in shares of Eaton by 16.2% in the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 30 shares during the period. Westmount Partners LLC lifted its position in shares of Eaton by 3.1% in the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 30 shares during the period. Signal Advisors Wealth LLC lifted its position in shares of Eaton by 3.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after purchasing an additional 30 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in Eaton by 2.1% during the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock valued at $513,000 after acquiring an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other Eaton news, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares in the company, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,981 shares of company stock worth $27,660,117. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on ETN. Wells Fargo & Company decreased their target price on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday. Barclays increased their price objective on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Mizuho raised their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Jefferies Financial Group raised their price target on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and an average price target of $368.89.

Eaton Stock Performance

NYSE:ETN opened at $346.54 on Friday. The company’s 50-day moving average price is $354.73 and its 200-day moving average price is $329.53. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The company has a market cap of $136.95 billion, a P/E ratio of 36.87, a P/E/G ratio of 2.27 and a beta of 1.06. Eaton Co. plc has a twelve month low of $236.20 and a twelve month high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the firm posted $2.47 earnings per share. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, sell-side analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s payout ratio is currently 40.00%.

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.