Eaton Co. plc (NYSE:ETN) Shares Acquired by Catalyst Financial Partners LLC

Catalyst Financial Partners LLC grew its position in shares of Eaton Co. plc (NYSE:ETN) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,815 shares of the industrial products company’s stock after purchasing an additional 81 shares during the period. Catalyst Financial Partners LLC’s holdings in Eaton were worth $919,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ETN. J.W. Cole Advisors Inc. bought a new stake in shares of Eaton in the 3rd quarter valued at approximately $351,000. Brown Advisory Inc. boosted its stake in Eaton by 5.3% during the 3rd quarter. Brown Advisory Inc. now owns 37,399 shares of the industrial products company’s stock valued at $7,977,000 after purchasing an additional 1,871 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Eaton by 11.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,005,575 shares of the industrial products company’s stock valued at $214,469,000 after acquiring an additional 99,367 shares during the period. NBT Bank N A NY raised its stake in shares of Eaton by 21.3% during the third quarter. NBT Bank N A NY now owns 12,132 shares of the industrial products company’s stock valued at $2,588,000 after purchasing an additional 2,134 shares in the last quarter. Finally, Advisor Partners II LLC raised its holdings in Eaton by 1.9% during the third quarter. Advisor Partners II LLC now owns 20,594 shares of the industrial products company’s stock worth $4,392,000 after purchasing an additional 380 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Up 0.9 %

NYSE:ETN traded up $3.00 during trading hours on Thursday, reaching $333.40. The company’s stock had a trading volume of 1,487,142 shares, compared to its average volume of 2,012,587. Eaton Co. plc has a one year low of $165.24 and a one year high of $333.45. The business’s 50-day moving average is $311.28 and its 200-day moving average is $265.01. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05. The company has a market cap of $133.29 billion, a price-to-earnings ratio of 39.35, a price-to-earnings-growth ratio of 2.54 and a beta of 1.06.

Eaton (NYSE:ETN) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The firm had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the prior year, the business earned $1.88 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. Equities research analysts predict that Eaton Co. plc will post 10.45 EPS for the current year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.13%. Eaton’s payout ratio is presently 44.39%.

Wall Street Analyst Weigh In

ETN has been the topic of several research reports. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $286.00 to $371.00 in a research report on Friday, April 5th. HSBC increased their price objective on Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Bank of America upped their target price on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Mizuho reissued a “buy” rating and issued a $355.00 price target (up from $340.00) on shares of Eaton in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Insider Buying and Selling

In related news, insider Peter Denk sold 1,731 shares of the company’s stock in a transaction 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 directly owns 5,514 shares in the company, valued at approximately $1,593,380.58. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Olivier Leonetti sold 4,461 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the sale, the insider now owns 630 shares of the company’s stock, valued at $171,360. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 directly owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,635 shares of company stock valued at $6,311,392. Insiders own 0.33% of the company’s stock.

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.