Paladin Advisory Group LLC Reduces Holdings in Eaton Co. plc (NYSE:ETN)

Paladin Advisory Group LLC trimmed its position in shares of Eaton Co. plc (NYSE:ETN) by 4.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,466 shares of the industrial products company’s stock after selling 70 shares during the quarter. Paladin Advisory Group LLC’s holdings in Eaton were worth $353,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Ritholtz Wealth Management grew its holdings in Eaton by 5.1% in the 4th quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock valued at $1,379,000 after buying an additional 277 shares in the last quarter. BCS Wealth Management purchased a new stake in Eaton in the 3rd quarter valued at $216,000. Pacer Advisors Inc. grew its holdings in Eaton by 30.5% in the 4th quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock valued at $8,205,000 after buying an additional 7,964 shares in the last quarter. Chicago Capital LLC purchased a new stake in Eaton in the 4th quarter valued at $2,958,000. Finally, Neo Ivy Capital Management purchased a new stake in Eaton in the 3rd quarter valued at $479,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on ETN. Citigroup upped their target price on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Bank of America increased their price target on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $250.00 to $300.00 in a report on Tuesday, April 2nd. Royal Bank of Canada upgraded 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 report on Friday, April 5th. Finally, The Goldman Sachs Group increased their price target on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.60.

Eaton Trading Down 1.9 %

ETN traded down $5.72 during mid-day trading on Friday, hitting $303.22. 3,084,235 shares of the stock were exchanged, compared to its average volume of 1,908,520. The firm’s fifty day moving average is $300.20 and its two-hundred day moving average is $253.91. Eaton Co. plc has a 1-year low of $161.12 and a 1-year high of $331.47. 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 company has a market cap of $121.14 billion, a PE ratio of 37.78, a PEG ratio of 2.57 and a beta of 1.07.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.08. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the prior year, the company earned $2.06 EPS. Eaton’s revenue was up 10.8% on a year-over-year basis. Equities analysts forecast that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were given a $0.94 dividend. The ex-dividend date was Friday, March 8th. This represents a $3.76 dividend on an annualized basis and a yield of 1.24%. This is a positive change from Eaton’s previous quarterly dividend of $0.86. Eaton’s dividend payout ratio (DPR) is currently 46.88%.

Insider Buying and Selling at Eaton

In other news, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was 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 of the company’s stock, valued at approximately $1,593,380.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $20,244,140.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the transaction, the insider now owns 5,514 shares in the company, valued at approximately $1,593,380.58. The disclosure for this sale can be found here. Insiders have sold 38,969 shares of company stock valued at $10,904,774 in the last quarter. Corporate insiders own 0.53% of the company’s stock.

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.