Gladstone Institutional Advisory LLC Has $493,000 Holdings in Eaton Co. plc (NYSE:ETN)

Gladstone Institutional Advisory LLC grew its holdings in shares of Eaton Co. plc (NYSE:ETN) by 32.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,047 shares of the industrial products company’s stock after purchasing an additional 505 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Eaton were worth $493,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Tennessee Valley Asset Management Partners acquired a new stake in shares of Eaton during the 4th quarter worth approximately $25,000. Valued Wealth Advisors LLC bought a new position in Eaton in the 4th quarter valued at approximately $35,000. Chilton Capital Management LLC bought a new position in Eaton in the 4th quarter valued at approximately $35,000. Authentikos Wealth Advisory LLC bought a new position in Eaton in the 3rd quarter valued at approximately $39,000. Finally, Fortitude Family Office LLC bought a new position in Eaton in the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Mizuho reiterated a “buy” rating and set a $355.00 price objective (up from $340.00) on shares of Eaton in a research report on Wednesday, May 1st. Wolfe Research reiterated an “underperform” rating and set a $312.00 price objective on shares of Eaton in a research report on Monday, April 8th. Evercore ISI increased their price objective 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. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Finally, Bank of America raised their price target on shares of Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Eaton Stock Down 0.2 %

Eaton stock opened at $336.13 on Thursday. Eaton Co. plc has a fifty-two week low of $167.33 and a fifty-two week high of $338.88. The stock has a market cap of $134.38 billion, a PE ratio of 39.68, a price-to-earnings-growth ratio of 2.82 and a beta of 1.06. The firm’s 50-day simple moving average is $318.69 and its 200 day simple moving average is $274.05. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56.

Eaton (NYSE:ETN) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.12. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The business had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the previous year, the company earned $1.88 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. Research analysts predict that Eaton Co. plc will post 10.56 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.12%. The ex-dividend date is Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Insider Buying and Selling

In other Eaton news, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total value of $801,725.44. Following the transaction, the insider now directly owns 5,086 shares in the company, valued at $1,687,738.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Eaton news, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total value of $801,725.44. Following the transaction, the insider now directly owns 5,086 shares in the company, valued at $1,687,738.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were 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 owns 69,472 shares in the company, valued at $20,244,140.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,174 shares of company stock worth $5,098,000. 0.53% of the stock is owned by insiders.

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.