Catalina Capital Group LLC Purchases 1,487 Shares of Eaton Co. plc (NYSE:ETN)

Catalina Capital Group LLC raised its position in Eaton Co. plc (NYSE:ETNFree Report) by 140.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,543 shares of the industrial products company’s stock after buying an additional 1,487 shares during the quarter. Catalina Capital Group LLC’s holdings in Eaton were worth $795,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ETN. Norges Bank bought a new stake in shares of Eaton during the 4th quarter valued at approximately $1,087,983,000. Jennison Associates LLC grew its holdings in shares of Eaton by 2,857.4% during the 1st quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock valued at $394,752,000 after purchasing an additional 1,219,790 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Eaton by 2,006.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 964,728 shares of the industrial products company’s stock valued at $232,326,000 after purchasing an additional 918,936 shares during the last quarter. Capital World Investors bought a new stake in shares of Eaton during the 4th quarter valued at approximately $181,411,000. Finally, Artisan Partners Limited Partnership grew its holdings in shares of Eaton by 207.5% during the 4th quarter. Artisan Partners Limited Partnership now owns 970,426 shares of the industrial products company’s stock valued at $233,698,000 after purchasing an additional 654,855 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Eaton

In other Eaton news, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total transaction of $801,725.44. Following the completion of the sale, the insider now owns 5,086 shares in the company, valued at approximately $1,687,738.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is currently owned by company insiders.

Eaton Stock Up 2.6 %

Shares of Eaton stock traded up $8.19 during trading on Wednesday, reaching $326.90. 2,083,144 shares of the company traded hands, compared to its average volume of 2,003,063. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19. The company has a 50 day moving average price of $325.17 and a 200-day moving average price of $297.04. The firm has a market capitalization of $130.69 billion, a PE ratio of 38.62, a P/E/G ratio of 2.68 and a beta of 1.02.

Eaton (NYSE:ETNGet Free Report) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the previous year, the company earned $1.88 EPS. Eaton’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts expect that Eaton Co. plc will post 10.55 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 1.15%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ETN. HSBC lifted their price target on shares of Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a report on Friday, May 3rd. The Goldman Sachs Group lifted their target price 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. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $286.00 to $371.00 in a research report on Friday, April 5th. Finally, Mizuho reiterated a “buy” rating and set a $355.00 target price (up from $340.00) on shares of Eaton in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average target price of $318.06.

Get Our Latest Stock Report on ETN

About Eaton

(Free Report)

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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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