Running Oak Capital LLC Acquires New Position in Eaton Co. plc (NYSE:ETN)

Running Oak Capital LLC purchased a new position in shares of Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 37,410 shares of the industrial products company’s stock, valued at approximately $9,009,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Tennessee Valley Asset Management Partners acquired a new position in shares of Eaton in the 4th quarter valued at $25,000. Valued Wealth Advisors LLC bought a new position in shares of Eaton during the fourth quarter valued at approximately $35,000. Chilton Capital Management LLC bought a new stake in Eaton in the 4th quarter valued at about $35,000. Authentikos Wealth Advisory LLC acquired a new position in shares of Eaton during the third quarter worth approximately $39,000. Finally, Fortitude Family Office LLC bought a new position in shares of Eaton in the fourth quarter worth $46,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ETN shares. Argus raised their price objective on shares of Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday. Citigroup boosted their price target on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. UBS Group raised their price objective on Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Wolfe Research reiterated an “underperform” rating and set a $312.00 price target on shares of Eaton in a report on Monday, April 8th. Finally, The Goldman Sachs Group boosted their price objective on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $309.60.

Insider Buying and Selling

In other Eaton news, 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 transaction, the insider now directly owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction dated Tuesday, February 13th. The stock was 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 approximately $171,360. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Peter Denk sold 1,731 shares of Eaton stock in a transaction on 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 sale, 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 have sold a total of 38,969 shares of company stock valued at $10,904,774 over the last 90 days. 0.53% of the stock is owned by insiders.

Eaton Price Performance

Shares of NYSE:ETN traded up $3.24 during midday trading on Thursday, hitting $315.27. The stock had a trading volume of 3,009,501 shares, compared to its average volume of 2,039,755. Eaton Co. plc has a fifty-two week low of $165.24 and a fifty-two week high of $333.05. The company has a quick ratio of 1.02, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. The company’s 50-day moving average price is $307.35 and its 200-day moving average price is $260.80. The company has a market capitalization of $125.95 billion, a P/E ratio of 36.42, a price-to-earnings-growth ratio of 2.63 and a beta of 1.06.

Eaton (NYSE:ETN) last posted its 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 firm 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.88 earnings per share. As a group, equities research analysts predict that Eaton Co. plc will post 10.33 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Friday, May 3rd. Eaton’s payout ratio is currently 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.