Eaton Co. plc (NYSE:ETN) Shares Acquired by Nkcfo LLC

Nkcfo LLC boosted its holdings in Eaton Co. plc (NYSE:ETN) by 100.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,400 shares of the industrial products company’s stock after buying an additional 1,700 shares during the quarter. Eaton comprises about 0.4% of Nkcfo LLC’s investment portfolio, making the stock its 26th largest holding. Nkcfo LLC’s holdings in Eaton were worth $819,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Eaton by 36.0% during the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock worth $4,248,960,000 after purchasing an additional 5,270,331 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Eaton in the third quarter valued at approximately $340,500,000. Deutsche Bank AG boosted its holdings in shares of Eaton by 97.5% in the third quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock valued at $396,767,000 after acquiring an additional 918,422 shares during the period. Artisan Partners Limited Partnership purchased a new position in shares of Eaton during the third quarter worth approximately $67,305,000. Finally, International Assets Investment Management LLC grew its position in shares of Eaton by 21,664.8% during the fourth quarter. International Assets Investment Management LLC now owns 316,242 shares of the industrial products company’s stock worth $76,157,000 after acquiring an additional 314,789 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Eaton

In other Eaton news, insider Peter Denk sold 1,731 shares of Eaton stock in a transaction dated Thursday, February 29th. The shares were 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 in the company, valued at $1,593,380.58. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Eaton news, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction on 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 $1,593,380.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the sale, the insider now directly owns 69,472 shares in the company, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,969 shares of company stock valued at $10,904,774. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wolfe Research reissued an “underperform” rating and set a $312.00 price target on shares of Eaton in a report on Monday, April 8th. Berenberg Bank increased their price objective on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Bank of America boosted their target price on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Mizuho reaffirmed a “buy” rating and set a $355.00 price target (up from $340.00) on shares of Eaton in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Eaton Price Performance

ETN stock traded up $6.15 during trading on Friday, reaching $320.50. 1,769,790 shares of the company were exchanged, compared to its average volume of 2,741,837. Eaton Co. plc has a 52-week low of $165.24 and a 52-week high of $333.05. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.02 and a current ratio of 1.56. The company has a market cap of $128.14 billion, a P/E ratio of 37.84, a PEG ratio of 2.54 and a beta of 1.06. The stock’s 50 day moving average price is $308.68 and its 200 day moving average price is $262.71.

Eaton (NYSE:ETN) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. The business had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.88 EPS. As a group, analysts predict that Eaton Co. plc will post 10.45 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a $0.94 dividend. The ex-dividend date is Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.17%. Eaton’s dividend payout ratio is presently 44.39%.

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.