Hyman Charles D Boosts Position in Eaton Co. plc (NYSE:ETN)

Hyman Charles D increased its holdings in Eaton Co. plc (NYSE:ETN) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,448 shares of the industrial products company’s stock after acquiring an additional 182 shares during the quarter. Hyman Charles D’s holdings in Eaton were worth $1,071,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in ETN. Ritholtz Wealth Management increased its position 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 buying an additional 277 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Eaton by 30.5% during the 4th 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 bought a new position in shares of Eaton in the 4th quarter worth approximately $2,958,000. Neo Ivy Capital Management bought a new stake in shares of Eaton during the third quarter valued at approximately $479,000. Finally, Adell Harriman & Carpenter Inc. boosted its position in shares of Eaton by 10.8% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 43,984 shares of the industrial products company’s stock valued at $10,592,000 after purchasing an additional 4,287 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

ETN stock traded up $0.06 on Tuesday, hitting $327.30. The company had a trading volume of 1,792,924 shares, compared to its average volume of 2,025,208. The stock has a market cap of $130.85 billion, a price-to-earnings ratio of 38.64, a P/E/G ratio of 2.54 and a beta of 1.06. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The stock’s 50-day simple moving average is $310.41 and its 200 day simple moving average is $264.55. Eaton Co. plc has a 12-month low of $165.24 and a 12-month high of $333.05.

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

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 1.15%. Eaton’s dividend payout ratio is currently 44.39%.

Analyst Ratings Changes

ETN has been the topic of a number of research reports. Wolfe Research restated an “underperform” rating and set a $312.00 target price on shares of Eaton in a report on Monday, April 8th. The Goldman Sachs Group raised their target price on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research note on Friday, March 15th. HSBC upped their price target on Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a research note on Friday. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Finally, Berenberg Bank raised their price target on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Insiders Place Their Bets

In related news, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the transaction, the insider now directly owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the transaction, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the sale, the insider now directly owns 630 shares in the company, valued at approximately $171,360. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,969 shares of company stock worth $10,904,774. Company insiders own 0.33% of the company’s stock.

About Eaton

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.