Dover Advisors LLC Has $1.99 Million Position in Eaton Co. plc (NYSE:ETN)

Dover Advisors LLC lowered its position in Eaton Co. plc (NYSE:ETN) by 24.5% during the 4th quarter, HoldingsChannel reports. The firm owned 8,268 shares of the industrial products company’s stock after selling 2,683 shares during the period. Eaton comprises about 2.6% of Dover Advisors LLC’s investment portfolio, making the stock its 7th biggest position. Dover Advisors LLC’s holdings in Eaton were worth $1,991,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC increased its stake in Eaton by 36.0% in the 3rd quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock worth $4,248,960,000 after acquiring an additional 5,270,331 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Eaton in the third quarter valued at approximately $340,500,000. Deutsche Bank AG raised its stake in Eaton by 97.5% in the third quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock valued at $396,767,000 after purchasing an additional 918,422 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in Eaton during the third quarter valued at approximately $67,305,000. Finally, International Assets Investment Management LLC grew its stake in Eaton by 21,664.8% in the 4th quarter. International Assets Investment Management LLC now owns 316,242 shares of the industrial products company’s stock worth $76,157,000 after buying an additional 314,789 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Royal Bank of Canada raised shares of Eaton from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $286.00 to $371.00 in a report on Friday, April 5th. Berenberg Bank upped their price objective on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Wolfe Research reissued an “underperform” rating and set a $312.00 price objective on shares of Eaton in a report on Monday, April 8th. Evercore ISI upped their target price on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Finally, Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and an average target price of $295.60.

Insiders Place Their Bets

In other 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 value of $500,207.07. Following the completion of the transaction, 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 can be accessed through this hyperlink. In other Eaton news, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Olivier Leonetti sold 4,461 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the sale, the insider now directly owns 630 shares in the company, valued at $171,360. The disclosure for this sale can be found here. Insiders sold 38,969 shares of company stock worth $10,904,774 over the last three months. Company insiders own 0.53% of the company’s stock.

Eaton Trading Up 2.3 %

NYSE:ETN traded up $7.20 during mid-day trading on Friday, reaching $324.30. 2,305,692 shares of the company’s stock traded hands, compared to its average volume of 2,383,996. The firm has a market capitalization of $129.56 billion, a price-to-earnings ratio of 40.44, a PEG ratio of 2.69 and a beta of 1.07. Eaton Co. plc has a 12-month low of $162.04 and a 12-month high of $331.47. The company has a 50 day moving average price of $304.82 and a 200-day moving average price of $258.90. 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 announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 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 analyst estimates of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.06 earnings per share. On average, sell-side analysts predict that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Friday, May 3rd. Eaton’s payout ratio is currently 46.88%.

Eaton Company 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.