11,198 Shares in Eaton Co. plc (NYSE:ETN) Bought by Naples Money Management LLC

Naples Money Management LLC bought a new position in Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 11,198 shares of the industrial products company’s stock, valued at approximately $2,697,000. Eaton makes up 2.5% of Naples Money Management LLC’s portfolio, making the stock its 11th largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ETN. Ritholtz Wealth Management lifted its stake in Eaton by 5.1% in the fourth quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock worth $1,379,000 after purchasing an additional 277 shares during the last quarter. BCS Wealth Management bought a new stake in Eaton in the third quarter worth $216,000. Pacer Advisors Inc. lifted its stake in Eaton by 30.5% in the fourth quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock worth $8,205,000 after purchasing an additional 7,964 shares during the last quarter. Chicago Capital LLC bought a new stake in Eaton in the fourth quarter worth $2,958,000. Finally, Neo Ivy Capital Management bought a new stake in Eaton in the third quarter worth $479,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Eaton news, insider Peter Denk sold 1,731 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the sale, 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 through the SEC website. In other Eaton news, insider Peter Denk sold 1,731 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the sale, 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 through the SEC website. Also, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the sale, the insider now owns 630 shares in the company, valued at approximately $171,360. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,969 shares of company stock worth $10,904,774. 0.53% of the stock is currently owned by company insiders.

Eaton Trading Down 1.9 %

ETN stock traded down $5.72 during trading on Friday, reaching $303.22. The company had a trading volume of 3,084,235 shares, compared to its average volume of 1,908,520. Eaton Co. plc has a 52 week low of $161.12 and a 52 week high of $331.47. The company has a market cap of $121.14 billion, a P/E ratio of 37.78, a PEG ratio of 2.57 and a beta of 1.07. The business has a 50 day moving average of $300.20 and a 200 day moving average of $253.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02.

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

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Friday, March 8th. This is a boost from Eaton’s previous quarterly dividend of $0.86. Eaton’s dividend payout ratio is 46.88%.

Analyst Ratings Changes

ETN has been the subject of several recent research reports. Evercore ISI boosted their price target on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Mizuho boosted their price target on shares of Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Berenberg Bank upped their price objective on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Bank of America upped their price objective on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $312.00 price objective on shares of Eaton in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $295.60.

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.