Lindbrook Capital LLC Purchases 397 Shares of Eaton Co. plc (NYSE:ETN)

Lindbrook Capital LLC increased its position in shares of Eaton Co. plc (NYSE:ETNFree Report) by 16.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,744 shares of the industrial products company’s stock after buying an additional 397 shares during the period. Lindbrook Capital LLC’s holdings in Eaton were worth $661,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. grew its position in Eaton by 3.3% in the fourth quarter. Meeder Asset Management Inc. now owns 1,315 shares of the industrial products company’s stock valued at $317,000 after acquiring an additional 42 shares during the period. Amarillo National Bank grew its position in Eaton by 3.5% in the fourth quarter. Amarillo National Bank now owns 1,270 shares of the industrial products company’s stock valued at $306,000 after acquiring an additional 43 shares during the period. Red Spruce Capital LLC grew its position in Eaton by 0.3% in the fourth quarter. Red Spruce Capital LLC now owns 17,522 shares of the industrial products company’s stock valued at $4,220,000 after acquiring an additional 45 shares during the period. GSG Advisors LLC grew its position in Eaton by 2.1% in the fourth quarter. GSG Advisors LLC now owns 2,227 shares of the industrial products company’s stock valued at $519,000 after acquiring an additional 46 shares during the period. Finally, Quent Capital LLC grew its position in Eaton by 3.8% in the fourth quarter. Quent Capital LLC now owns 1,334 shares of the industrial products company’s stock valued at $321,000 after acquiring an additional 49 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Eaton Trading Down 1.9 %

NYSE:ETN traded down $5.92 during mid-day trading on Friday, hitting $303.02. The company had a trading volume of 3,084,670 shares, compared to its average volume of 2,164,310. Eaton Co. plc has a fifty-two week low of $161.12 and a fifty-two week high of $331.47. The business’s fifty day moving average is $300.70 and its two-hundred day moving average is $254.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.51. The firm has a market cap of $121.06 billion, a P/E ratio of 37.78, a P/E/G ratio of 2.51 and a beta of 1.07.

Eaton (NYSE:ETNGet Free Report) last released its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.08. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the prior year, the firm posted $2.06 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, research analysts expect that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were paid a $0.94 dividend. This is a positive change from Eaton’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Friday, March 8th. This represents a $3.76 annualized dividend and a yield of 1.24%. Eaton’s dividend payout ratio is presently 46.88%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ETN shares. Bank of America upped their price target on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, March 18th. The Goldman Sachs Group boosted their price objective on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Barclays raised 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. Citigroup boosted their price objective on Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Berenberg Bank boosted their price objective on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $295.60.

Check Out Our Latest Stock Analysis on Eaton

Insider Buying and Selling at Eaton

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the sale, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the sale, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the sale, the insider now owns 630 shares of the company’s stock, valued at $171,360. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,969 shares of company stock valued at $10,904,774. 0.53% of the stock is currently owned by company insiders.

Eaton Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding ETN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eaton Co. plc (NYSE:ETNFree Report).

Institutional Ownership by Quarter for Eaton (NYSE:ETN)

Receive News & Ratings for Eaton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton and related companies with MarketBeat.com's FREE daily email newsletter.