Eaton Co. plc (NYSE:ETN) Position Increased by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC increased its position in shares of Eaton Co. plc (NYSE:ETN – Get Rating) by 588.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 241 shares of the industrial products company’s stock after acquiring an additional 206 shares during the period. Princeton Global Asset Management LLC’s holdings in Eaton were worth $37,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ETN. Stonnington Group LLC raised its holdings in Eaton by 11.1% during the first quarter. Stonnington Group LLC now owns 13,010 shares of the industrial products company’s stock valued at $1,851,000 after buying an additional 1,300 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in Eaton by 54.6% during the first quarter. Rosenberg Matthew Hamilton now owns 779 shares of the industrial products company’s stock valued at $118,000 after buying an additional 275 shares in the last quarter. MTM Investment Management LLC raised its holdings in Eaton by 34.2% during the fourth quarter. MTM Investment Management LLC now owns 2,355 shares of the industrial products company’s stock valued at $407,000 after buying an additional 600 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in Eaton by 0.8% during the first quarter. Louisiana State Employees Retirement System now owns 25,200 shares of the industrial products company’s stock valued at $3,764,000 after buying an additional 200 shares in the last quarter. Finally, Mendel Capital Management LLC bought a new position in Eaton during the fourth quarter valued at about $270,000. 79.10% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Stock Up 0.0 %

NYSE ETN opened at $148.71 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.59 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average is $134.35 and its two-hundred day moving average is $144.24. The company has a market capitalization of $59.23 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 1.80 and a beta of 1.19. Eaton Co. plc has a 1-year low of $122.50 and a 1-year high of $175.72.

Eaton (NYSE:ETN – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.05. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.22 billion. Eaton had a return on equity of 17.04% and a net margin of 11.70%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business earned $1.72 earnings per share. Equities analysts forecast that Eaton Co. plc will post 7.51 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, August 12th will be issued a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Thursday, August 11th. Eaton’s payout ratio is currently 56.15%.

Insider Transactions at Eaton

In other news, insider Boise April Miller sold 12,283 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $138.66, for a total value of $1,703,160.78. Following the transaction, the insider now directly owns 11,435 shares of the company’s stock, valued at approximately $1,585,577.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of recent analyst reports. Mizuho lifted their price objective on Eaton from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup lifted their price objective on Eaton from $150.00 to $170.00 in a research note on Thursday. Royal Bank of Canada lifted their price objective on Eaton from $139.00 to $145.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Robert W. Baird set a $144.00 price objective on Eaton in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Eaton from $178.00 to $156.00 and set a “buy” rating on the stock in a research note on Wednesday, July 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $161.33.

Eaton Profile

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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.