Bigelow Investment Advisors LLC Has $810,000 Position in Eaton Co. plc (NYSE:ETN)

Bigelow Investment Advisors LLC reduced its stake in Eaton Co. plc (NYSE:ETN) by 19.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,362 shares of the industrial products company’s stock after selling 795 shares during the period. Bigelow Investment Advisors LLC’s holdings in Eaton were worth $810,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ritholtz Wealth Management grew its stake in shares of Eaton by 5.1% in the fourth quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock valued at $1,379,000 after acquiring an additional 277 shares in the last quarter. BCS Wealth Management acquired a new position in shares of Eaton in the third quarter valued at about $216,000. Pacer Advisors Inc. grew its stake in shares of Eaton by 30.5% in the fourth quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock valued at $8,205,000 after acquiring an additional 7,964 shares in the last quarter. Chicago Capital LLC acquired a new position in shares of Eaton in the fourth quarter valued at about $2,958,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Eaton in the third quarter valued at about $479,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Trading Down 1.9 %

NYSE ETN traded down $5.92 during trading hours on Friday, reaching $303.02. The company’s stock had a trading volume of 3,083,506 shares, compared to its average volume of 1,908,512. The firm has a fifty day simple moving average of $300.20 and a 200-day simple moving average of $253.91. The stock has a market cap of $121.06 billion, a P/E ratio of 38.29, a P/E/G ratio of 2.57 and a beta of 1.07. Eaton Co. plc has a 52 week low of $161.12 and a 52 week 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.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. The business had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business earned $2.06 EPS. Equities analysts forecast that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were given a $0.94 dividend. The ex-dividend date was Friday, March 8th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.24%. This is an increase from Eaton’s previous quarterly dividend of $0.86. Eaton’s payout ratio is 46.88%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Berenberg Bank increased their price objective on shares of Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $286.00 to $371.00 in a research note on Friday, April 5th. Evercore ISI increased their price objective on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Finally, Citigroup increased their price objective on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. One equities 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $295.60.

Insider Activity

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the completion of the sale, the insider now owns 29,712 shares in the company, valued at approximately $8,116,427.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total value of $5,395,107.50. Following the transaction, the insider now directly owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Peter Denk sold 1,731 shares of Eaton stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $288.97, for a total transaction of $500,207.07. Following the completion of the transaction, the insider now owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The disclosure for this sale can be found here. Insiders sold 38,969 shares of company stock worth $10,904,774 in the last quarter. 0.53% of the stock is owned by corporate insiders.

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.