2,505 Shares in Eaton Co. plc (NYSE:ETN) Purchased by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. bought a new position in shares of Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 2,505 shares of the industrial products company’s stock, valued at approximately $603,000.

Several other institutional investors also recently modified their holdings of ETN. S.A. Mason LLC lifted its stake in Eaton by 6.8% in the 4th quarter. S.A. Mason LLC now owns 801 shares of the industrial products company’s stock valued at $193,000 after acquiring an additional 51 shares in the last quarter. Highland Capital Management LLC increased its holdings in shares of Eaton by 0.7% during the 4th quarter. Highland Capital Management LLC now owns 26,243 shares of the industrial products company’s stock worth $6,320,000 after acquiring an additional 190 shares during the last quarter. RNC Capital Management LLC increased its holdings in shares of Eaton by 1.0% during the 4th quarter. RNC Capital Management LLC now owns 44,307 shares of the industrial products company’s stock worth $10,670,000 after acquiring an additional 445 shares during the last quarter. Columbia Trust Co 01012016 increased its holdings in shares of Eaton by 6.6% during the 4th quarter. Columbia Trust Co 01012016 now owns 2,269 shares of the industrial products company’s stock worth $546,000 after acquiring an additional 140 shares during the last quarter. Finally, Bar Harbor Wealth Management grew its holdings in Eaton by 8.8% in the 4th quarter. Bar Harbor Wealth Management now owns 12,628 shares of the industrial products company’s stock valued at $3,041,000 after buying an additional 1,020 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 630 shares in the company, valued at approximately $171,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the sale, the insider now owns 29,712 shares in the company, valued at approximately $8,116,427.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 630 shares of the company’s stock, valued at approximately $171,360. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,969 shares of company stock worth $10,904,774. 0.53% of the stock is currently owned by insiders.

Eaton Stock Performance

Shares of NYSE:ETN traded down $0.91 during midday trading on Thursday, reaching $313.49. 301,252 shares of the company traded hands, compared to its average volume of 1,750,967. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. Eaton Co. plc has a 12 month low of $155.38 and a 12 month high of $317.02. The firm has a market capitalization of $125.24 billion, a price-to-earnings ratio of 38.97, a price-to-earnings-growth ratio of 2.59 and a beta of 1.07. The firm’s fifty day moving average price is $278.80 and its two-hundred day moving average price is $242.64.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The business had revenue of $5.97 billion for 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 company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.06 EPS. On average, equities analysts expect that Eaton Co. plc will post 10.25 earnings per share for the current year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 11th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, March 8th. This is a positive change from Eaton’s previous quarterly dividend of $0.86. This represents a $3.76 annualized dividend and a dividend yield of 1.20%. Eaton’s dividend payout ratio is 46.88%.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of research reports. Citigroup upped their price objective on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Wells Fargo & Company upped their price objective on Eaton from $220.00 to $257.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 19th. Mizuho increased their target price on Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. UBS Group increased their target price on Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Royal Bank of Canada lifted their price objective on Eaton from $246.00 to $286.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $274.20.

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.