Bfsg LLC Acquires Shares of 300 Eaton Co. plc (NYSE:ETN)

Bfsg LLC acquired a new stake in Eaton Co. plc (NYSE:ETN) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 300 shares of the industrial products company’s stock, valued at approximately $72,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ETN. Tennessee Valley Asset Management Partners purchased a new position in Eaton in the 4th quarter valued at about $25,000. Valued Wealth Advisors LLC bought a new position in shares of Eaton during the fourth quarter worth about $35,000. Chilton Capital Management LLC bought a new position in shares of Eaton during the fourth quarter worth about $35,000. Authentikos Wealth Advisory LLC bought a new position in shares of Eaton during the third quarter worth about $39,000. Finally, Legacy Financial Group LLC bought a new position in shares of Eaton during the third quarter worth about $43,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the transaction, the insider now owns 69,472 shares in the company, valued at $20,244,140.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the firm’s 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 directly owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. 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. 0.53% of the stock is owned by insiders.

Eaton Price Performance

NYSE ETN opened at $317.65 on Friday. Eaton Co. plc has a 12 month low of $162.04 and a 12 month high of $331.47. 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 has a market capitalization of $126.90 billion, a PE ratio of 39.54, a P/E/G ratio of 2.64 and a beta of 1.07. The company’s 50 day simple moving average is $303.89 and its 200 day simple moving average is $257.51.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 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 business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the business earned $2.06 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities research analysts forecast that Eaton Co. plc will post 10.28 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.18%. Eaton’s dividend payout ratio is presently 46.88%.

Wall Street Analyst Weigh In

ETN has been the topic of several research analyst reports. Evercore ISI increased their price target on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group raised 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. Citigroup raised their target price on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. UBS Group raised 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. Finally, Berenberg Bank raised 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. One equities 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $295.60.

About Eaton

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.