Van Cleef Asset Management Inc Has $479,000 Position in Eaton Co. plc (NYSE:ETN)

Van Cleef Asset Management Inc grew its position in Eaton Co. plc (NYSE:ETN) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,988 shares of the industrial products company’s stock after buying an additional 50 shares during the quarter. Van Cleef Asset Management Inc’s holdings in Eaton were worth $479,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC grew its holdings in shares of Eaton by 36.0% during the 3rd quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after purchasing an additional 5,270,331 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Eaton during the 3rd quarter valued at approximately $340,500,000. Deutsche Bank AG grew its holdings in shares of Eaton by 97.5% during the 3rd quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock valued at $396,767,000 after purchasing an additional 918,422 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of Eaton during the 3rd quarter valued at approximately $67,305,000. Finally, International Assets Investment Management LLC grew its holdings in shares of Eaton by 21,664.8% during the 4th quarter. International Assets Investment Management LLC now owns 316,242 shares of the industrial products company’s stock valued at $76,157,000 after purchasing an additional 314,789 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ETN. UBS Group boosted their target price on shares of Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Berenberg Bank boosted their target price on shares of Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. The Goldman Sachs Group boosted their target price on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Evercore ISI boosted their target price on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Finally, Wolfe Research reissued an “underperform” rating and set a $312.00 target price on shares of Eaton in a 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 issued a buy rating to the company. Based on data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and an average price target of $295.60.

Eaton Stock Down 0.5 %

Shares of Eaton stock traded down $1.69 during trading on Thursday, reaching $317.10. 2,416,304 shares of the company traded hands, compared to its average volume of 1,952,214. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. Eaton Co. plc has a 1-year low of $161.12 and a 1-year high of $331.47. The company has a 50 day moving average price of $303.06 and a 200-day moving average price of $257.09. The firm has a market capitalization of $126.68 billion, a PE ratio of 39.77, a P/E/G ratio of 2.59 and a beta of 1.07.

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

Eaton Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 1.19%. Eaton’s payout ratio is 46.88%.

Insiders Place Their Bets

In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the company’s 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 transaction, the insider now owns 630 shares in the company, valued at $171,360. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Peter Denk sold 1,731 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the sale, the insider now owns 5,514 shares in the company, valued at $1,593,380.58. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction dated 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 transaction, the insider now owns 630 shares of the company’s stock, valued at approximately $171,360. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,969 shares of company stock worth $10,904,774. Insiders own 0.53% of the company’s stock.

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.