Signaturefd LLC Grows Position in Eaton Co. plc (NYSE:ETN)

Signaturefd LLC grew its stake in shares of Eaton Co. plc (NYSE:ETNFree Report) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,338 shares of the industrial products company’s stock after purchasing an additional 369 shares during the quarter. Signaturefd LLC’s holdings in Eaton were worth $2,730,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Ritholtz Wealth Management boosted its stake in shares of Eaton by 5.1% during the fourth quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock valued at $1,379,000 after purchasing an additional 277 shares during the period. Pacer Advisors Inc. lifted its stake in Eaton by 30.5% in the fourth quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock worth $8,205,000 after acquiring an additional 7,964 shares during the period. Chicago Capital LLC purchased a new stake in Eaton in the fourth quarter worth $2,958,000. Neo Ivy Capital Management purchased a new stake in Eaton in the third quarter worth $479,000. Finally, Patriot Financial Group Insurance Agency LLC lifted its stake in Eaton by 13.6% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,458 shares of the industrial products company’s stock worth $351,000 after acquiring an additional 174 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock traded down $5.92 during trading hours on Friday, reaching $303.02. 3,084,670 shares of the company traded hands, compared to its average volume of 2,164,310. Eaton Co. plc has a 12-month low of $161.12 and a 12-month high of $331.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. The company 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. The firm has a 50-day moving average price of $300.70 and a 200 day moving average price of $254.88.

Eaton (NYSE:ETNGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $5.91 billion. During the same period in the previous year, the firm earned $2.06 EPS. The business’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts predict that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 11th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.24%. The ex-dividend date was Friday, March 8th. This is an increase from Eaton’s previous quarterly dividend of $0.86. Eaton’s dividend payout ratio (DPR) is 46.88%.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the sale, the insider now owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the sale, the insider now owns 630 shares of the company’s stock, valued at approximately $171,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction that occurred 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 directly owns 29,712 shares in the company, valued at approximately $8,116,427.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,969 shares of company stock valued at $10,904,774. 0.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ETN shares. Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Berenberg Bank raised their price target on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group increased their price objective on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Mizuho increased their price objective on Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Evercore ISI increased their price objective on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $295.60.

Get Our Latest Analysis on ETN

Eaton 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.

Further Reading

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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