Private Advisor Group LLC Grows Stock Holdings in Eaton Co. plc (NYSE:ETN)

Private Advisor Group LLC lifted its stake in Eaton Co. plc (NYSE:ETN) by 20.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,904 shares of the industrial products company’s stock after purchasing an additional 5,079 shares during the quarter. Private Advisor Group LLC’s holdings in Eaton were worth $7,202,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. boosted its position in Eaton by 3.3% in the 4th quarter. Meeder Asset Management Inc. now owns 1,315 shares of the industrial products company’s stock valued at $317,000 after buying an additional 42 shares during the last quarter. Telemus Capital LLC boosted its position in Eaton by 1.0% in the 4th quarter. Telemus Capital LLC now owns 4,111 shares of the industrial products company’s stock valued at $990,000 after buying an additional 42 shares during the last quarter. Amarillo National Bank boosted its position in Eaton by 3.5% in the 4th quarter. Amarillo National Bank now owns 1,270 shares of the industrial products company’s stock valued at $306,000 after buying an additional 43 shares during the last quarter. Monument Capital Management boosted its position in Eaton by 1.9% in the 4th quarter. Monument Capital Management now owns 2,415 shares of the industrial products company’s stock valued at $582,000 after buying an additional 44 shares during the last quarter. Finally, Red Spruce Capital LLC boosted its position in Eaton by 0.3% in the 4th quarter. Red Spruce Capital LLC now owns 17,522 shares of the industrial products company’s stock valued at $4,220,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In other Eaton news, insider Peter Denk sold 1,731 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, 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 available at the SEC website. In other Eaton news, insider Peter Denk sold 1,731 shares of Eaton stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the sale, the insider now owns 5,514 shares in the company, valued at $1,593,380.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction 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 sale, the insider now owns 69,472 shares in the company, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,219 shares of company stock valued at $5,509,667. 0.33% of the stock is currently owned by corporate insiders.

Eaton Stock Up 1.3 %

Eaton stock traded up $4.38 during mid-day trading on Wednesday, hitting $331.81. The company’s stock had a trading volume of 185,661 shares, compared to its average volume of 2,004,308. The firm’s 50 day moving average is $310.41 and its 200 day moving average is $264.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05. The company has a market cap of $132.66 billion, a PE ratio of 38.64, a price-to-earnings-growth ratio of 2.54 and a beta of 1.06. Eaton Co. plc has a 52-week low of $165.24 and a 52-week high of $333.05.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.88 earnings per share. On average, analysts anticipate that Eaton Co. plc will post 10.45 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s payout ratio is presently 44.39%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ETN. Bank of America increased their price target on shares of Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Citigroup increased their price target on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. HSBC increased their price target on shares of Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. The Goldman Sachs Group increased their price target on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Finally, Royal Bank of Canada raised shares of Eaton from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $286.00 to $371.00 in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.27.

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.