Ethos Financial Group LLC Takes Position in Eaton Co. plc (NYSE:ETN)

Ethos Financial Group LLC bought a new position in Eaton Co. plc (NYSE:ETNFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 836 shares of the industrial products company’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Van Leeuwen & Company LLC grew its stake in Eaton by 102.5% in the 4th quarter. Van Leeuwen & Company LLC now owns 5,989 shares of the industrial products company’s stock valued at $1,442,000 after buying an additional 3,032 shares during the last quarter. US Asset Management LLC bought a new position in Eaton during the 4th quarter valued at about $705,000. GDS Wealth Management raised its stake in shares of Eaton by 5.5% in the fourth quarter. GDS Wealth Management now owns 5,729 shares of the industrial products company’s stock worth $1,380,000 after acquiring an additional 299 shares during the last quarter. Delos Wealth Advisors LLC raised its stake in shares of Eaton by 189.9% in the fourth quarter. Delos Wealth Advisors LLC now owns 200 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 131 shares during the last quarter. Finally, Catalyst Financial Partners LLC grew its position in shares of Eaton by 2.2% during the 4th quarter. Catalyst Financial Partners LLC now owns 3,815 shares of the industrial products company’s stock worth $919,000 after buying an additional 81 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total value 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the transaction, the insider now owns 630 shares in the company, valued at $171,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the transaction, the insider now owns 69,472 shares in the company, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. Insiders have sold 21,635 shares of company stock valued at $6,311,392 over the last ninety days. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ETN shares. Bank of America boosted their price objective on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. UBS Group upped their price objective on shares of Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Mizuho restated a “buy” rating and issued a $355.00 price target (up from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. Berenberg Bank upped their price target 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. Finally, Argus increased their price objective on shares of Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Read Our Latest Research Report on Eaton

Eaton Price Performance

ETN traded down $2.72 during midday trading on Friday, hitting $330.54. The stock had a trading volume of 1,955,043 shares, compared to its average volume of 2,012,484. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. Eaton Co. plc has a 1 year low of $165.24 and a 1 year high of $337.70. The business has a fifty day moving average of $312.17 and a 200 day moving average of $265.48. The company has a market cap of $132.15 billion, a P/E ratio of 39.28, a price-to-earnings-growth ratio of 2.54 and a beta of 1.06.

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

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.14%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

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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