Pinnacle Wealth Management Advisory Group LLC Purchases 869 Shares of Eaton Co. plc (NYSE:ETN)

Pinnacle Wealth Management Advisory Group LLC grew its position in Eaton Co. plc (NYSE:ETN) by 24.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,433 shares of the industrial products company’s stock after acquiring an additional 869 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Eaton were worth $1,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Tennessee Valley Asset Management Partners purchased a new position in shares of Eaton in the 4th quarter worth $25,000. Valued Wealth Advisors LLC purchased a new stake in Eaton during the fourth quarter valued at approximately $35,000. Chilton Capital Management LLC purchased a new position in shares of Eaton in the 4th quarter worth approximately $35,000. Authentikos Wealth Advisory LLC purchased a new stake in Eaton during the 3rd quarter valued at $39,000. Finally, Fortitude Family Office LLC bought a new stake in Eaton in the fourth quarter worth $46,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Up 0.9 %

Shares of NYSE ETN traded up $2.97 during mid-day trading on Wednesday, reaching $330.40. 1,401,463 shares of the company were exchanged, compared to its average volume of 2,018,528. The firm has a 50-day moving average of $310.41 and a 200 day moving average of $264.55. Eaton Co. plc has a 1 year low of $165.24 and a 1 year high of $333.13. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. The stock has a market cap of $132.09 billion, a price-to-earnings ratio of 39.01, a P/E/G ratio of 2.54 and a beta of 1.06.

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, beating 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 net margin of 14.38% and a return on equity of 20.69%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business earned $1.88 EPS. On average, research analysts expect that Eaton Co. plc will post 10.45 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.14%. Eaton’s payout ratio is 44.39%.

Analysts Set New Price Targets

Several equities analysts recently commented on ETN shares. Citigroup upped their price target on shares of Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Wolfe Research reaffirmed an “underperform” rating and set a $312.00 target price on shares of Eaton in a research note on Monday, April 8th. Argus boosted their price objective on Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. increased their target price on Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $250.00 to $300.00 in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Eaton has an average rating of “Moderate Buy” and a consensus target price of $314.27.

Insider Buying and Selling

In other news, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the completion of the sale, the insider now directly owns 630 shares in the company, valued at $171,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Olivier Leonetti sold 4,461 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the sale, the insider now owns 630 shares in the company, valued at $171,360. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the sale, the insider now owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The disclosure for this sale can be found here. Insiders have sold a total of 19,219 shares of company stock worth $5,509,667 in the last ninety days. 0.33% of the stock is owned by 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.