Capital Asset Advisory Services LLC purchased a new stake in shares of Eaton Co. plc (NYSE:ETN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,031 shares of the industrial products company’s stock, valued at approximately $124,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Oder Investment Management LLC bought a new position in Eaton during the 4th quarter valued at approximately $25,000. Charter Oak Capital Management LLC bought a new position in Eaton during the 4th quarter valued at approximately $30,000. Allworth Financial LP raised its position in Eaton by 605.3% during the 4th quarter. Allworth Financial LP now owns 268 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 230 shares during the last quarter. McCarthy Asset Management Inc. bought a new position in Eaton during the 4th quarter valued at approximately $34,000. Finally, Peoples Financial Services CORP. raised its position in Eaton by 69.0% during the 4th quarter. Peoples Financial Services CORP. now owns 294 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 120 shares during the last quarter. 77.88% of the stock is owned by institutional investors and hedge funds.
NYSE ETN opened at $140.38 on Thursday. The business’s fifty day moving average price is $135.27 and its 200-day moving average price is $120.14. The stock has a market capitalization of $55.92 billion, a price-to-earnings ratio of 41.29, a PEG ratio of 2.34 and a beta of 1.12. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.49 and a quick ratio of 1.13. Eaton Co. plc has a 1-year low of $70.54 and a 1-year high of $143.29.
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 30th. Investors of record on Tuesday, March 16th were issued a $0.76 dividend. This is a boost from Eaton’s previous quarterly dividend of $0.73. This represents a $3.04 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Monday, March 15th. Eaton’s dividend payout ratio (DPR) is currently 53.62%.
ETN has been the topic of a number of research analyst reports. Argus upped their target price on Eaton from $120.00 to $130.00 in a report on Thursday, December 10th. Barclays upped their price target on Eaton from $115.00 to $125.00 and gave the stock an “underweight” rating in a research note on Tuesday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on Eaton from $142.00 to $158.00 and gave the stock a “buy” rating in a research note on Wednesday, March 31st. HSBC upgraded Eaton from a “hold” rating to a “buy” rating and upped their price target for the stock from $103.00 to $140.00 in a research note on Tuesday, February 16th. Finally, Citigroup upped their price target on Eaton from $142.00 to $158.00 and gave the stock a “buy” rating in a research note on Wednesday, March 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $132.89.
In related news, insider Uday Yadav sold 11,769 shares of the firm’s stock in a transaction on Thursday, February 25th. The stock was sold at an average price of $132.17, for a total value of $1,555,508.73. Following the transaction, the insider now directly owns 22,436 shares of the company’s stock, valued at approximately $2,965,366.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Brian S. Brickhouse sold 22,758 shares of the firm’s stock in a transaction dated Wednesday, March 3rd. The shares were sold at an average price of $135.80, for a total value of $3,090,536.40. Following the sale, the insider now directly owns 15,587 shares in the company, valued at $2,116,714.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,740 shares of company stock worth $4,945,066. 0.54% of the stock is owned by insiders.
Eaton Company Profile
Eaton Corporation plc operates as a power management company. Its Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services in North and South America, as well as hazardous duty electrical, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems internationally.
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