New England Research & Management Inc. Increases Holdings in Eaton Co. plc (NYSE:ETN)

New England Research & Management Inc. lifted its position in Eaton Co. plc (NYSE:ETN) by 61.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,944 shares of the industrial products company’s stock after purchasing an additional 1,875 shares during the period. New England Research & Management Inc.’s holdings in Eaton were worth $1,344,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Bearing Point Capital LLC purchased a new stake in Eaton during the fourth quarter worth $2,713,000. Kennebec Savings Bank lifted its holdings in Eaton by 5.4% during the first quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company’s stock worth $738,000 after buying an additional 139 shares during the period. American National Bank & Trust lifted its holdings in Eaton by 5.4% during the first quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company’s stock worth $855,000 after buying an additional 162 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its holdings in Eaton by 46.9% during the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 3,365 shares of the industrial products company’s stock worth $1,117,000 after buying an additional 1,074 shares during the period. Finally, Vivid Wealth Management LLC purchased a new stake in Eaton during the fourth quarter worth $2,133,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

NYSE ETN opened at $323.26 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The stock’s fifty day moving average price is $304.79 and its 200 day moving average price is $315.02. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99. The company has a market cap of $126.49 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 2.64 and a beta of 1.16.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.02. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $2.40 EPS. As a group, equities research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.29%. The ex-dividend date was Monday, May 5th. Eaton’s dividend payout ratio is currently 41.98%.

Insiders Place Their Bets

In related news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the transaction, the insider now owns 3,382 shares in the company, valued at $1,004,014.34. The trade was a 38.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $305.43, for a total value of $15,593,423.22. Following the completion of the transaction, the insider now owns 489,444 shares of the company’s stock, valued at approximately $149,490,880.92. This represents a 9.45% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 156,660 shares of company stock valued at $49,622,894. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ETN. JPMorgan Chase & Co. upped their target price on Eaton from $300.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. KeyCorp upped their price target on Eaton from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. BNP Paribas Exane began coverage on Eaton in a research report on Thursday, May 15th. They set an “outperform” rating and a $380.00 price target on the stock. Wall Street Zen raised Eaton from a “hold” rating to a “buy” rating in a research report on Sunday, May 18th. Finally, Morgan Stanley reduced their price target on Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $368.78.

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.