Saxon Interests Inc. Invests $1.23 Million in Eaton Co. plc (NYSE:ETN)

Saxon Interests Inc. acquired a new position in shares of Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,109 shares of the industrial products company’s stock, valued at approximately $1,230,000.

A number of other large investors have also recently made changes to their positions in the company. PCA Investment Advisory Services Inc. purchased a new stake in Eaton during the 2nd quarter valued at approximately $27,000. Coppell Advisory Solutions Corp. purchased a new stake in Eaton during the 4th quarter valued at approximately $30,000. Global Trust Asset Management LLC purchased a new stake in Eaton during the 3rd quarter valued at approximately $32,000. Valued Wealth Advisors LLC purchased a new stake in Eaton during the 4th quarter valued at approximately $35,000. Finally, Cornerstone Planning Group LLC purchased a new position in shares of Eaton during the 2nd quarter worth approximately $36,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ETN. Mizuho increased their target price on Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Evercore ISI increased their target price on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. The Goldman Sachs Group increased their target price on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a report on Friday, March 15th. Wells Fargo & Company increased their target price on Eaton from $220.00 to $257.00 and gave the company an “equal weight” rating in a report on Tuesday, December 19th. Finally, Royal Bank of Canada raised their price objective on Eaton from $246.00 to $286.00 and gave the stock a “sector perform” rating in a report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average price target of $274.20.

Insider Transactions at Eaton

In related news, insider Olivier Leonetti sold 4,461 shares of the business’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 transaction of $1,213,392.00. Following the sale, the insider now owns 630 shares of the company’s stock, valued at $171,360. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the transaction, the insider now directly owns 29,712 shares in the company, valued at approximately $8,116,427.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Olivier Leonetti sold 4,461 shares of the business’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 disclosure for this sale can be found here. Over the last three months, insiders sold 38,969 shares of company stock worth $10,904,774. Company insiders own 0.53% of the company’s stock.

Eaton Stock Down 0.5 %

NYSE:ETN traded down $1.72 during mid-day trading on Friday, hitting $312.68. The company had a trading volume of 1,983,529 shares, compared to its average volume of 2,021,085. Eaton Co. plc has a 1 year low of $155.38 and a 1 year high of $317.02. The firm has a market capitalization of $124.92 billion, a price-to-earnings ratio of 38.99, a PEG ratio of 2.61 and a beta of 1.07. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $280.35 and a 200-day simple moving average of $243.15.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.06 earnings per share. Equities analysts forecast that Eaton Co. plc will post 10.25 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 11th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, March 8th. This is an increase from Eaton’s previous quarterly dividend of $0.86. This represents a $3.76 annualized dividend and a dividend yield of 1.20%. Eaton’s payout ratio is currently 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.