Transcend Capital Advisors LLC Boosts Position in Eaton Co. plc (NYSE:ETN)

Transcend Capital Advisors LLC boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 10.9% in the fourth quarter, Holdings Channel reports. The fund owned 15,060 shares of the industrial products company’s stock after purchasing an additional 1,484 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Eaton were worth $3,627,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners purchased a new stake in Eaton during the fourth quarter valued at $25,000. Valued Wealth Advisors LLC purchased a new stake in Eaton during the fourth quarter valued at $35,000. Chilton Capital Management LLC purchased a new stake in Eaton during the fourth quarter valued at $35,000. Authentikos Wealth Advisory LLC purchased a new stake in Eaton during the third quarter valued at $39,000. Finally, Fortitude Family Office LLC purchased a new stake in Eaton during the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the transaction, the insider now owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the transaction, the insider now owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total value of $5,395,107.50. Following the transaction, the insider now directly owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The disclosure for this sale can be found here. Insiders have sold 38,969 shares of company stock worth $10,904,774 over the last quarter. 0.53% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ETN. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Berenberg Bank upped their price target 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 upped their price target on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. The Goldman Sachs Group upped their price target on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Finally, Wolfe Research restated an “underperform” rating and issued a $312.00 price target on shares of Eaton in a research report on Monday, April 8th. 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $295.60.

Eaton Stock Performance

Eaton stock traded up $7.20 during trading hours on Friday, hitting $324.30. 2,305,692 shares of the stock traded hands, compared to its average volume of 2,383,996. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. The firm’s 50 day moving average price is $304.82 and its 200-day moving average price is $258.28. The stock has a market capitalization of $129.56 billion, a price-to-earnings ratio of 40.42, a P/E/G ratio of 2.63 and a beta of 1.07. Eaton Co. plc has a 1 year low of $162.04 and a 1 year high of $331.47.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.08. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The business had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the previous year, the business earned $2.06 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, equities analysts expect that Eaton Co. plc will post 10.28 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.16%. Eaton’s payout ratio is 46.88%.

Eaton 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.