Eaton Co. plc (NYSE:ETN) Shares Acquired by Greenleaf Trust

Greenleaf Trust increased its holdings in Eaton Co. plc (NYSE:ETN) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,474 shares of the industrial products company’s stock after acquiring an additional 392 shares during the quarter. Greenleaf Trust’s holdings in Eaton were worth $4,208,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of ETN. FMR LLC raised its stake in Eaton by 36.0% during the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after buying an additional 5,270,331 shares in the last quarter. Norges Bank acquired a new stake in Eaton during the fourth quarter valued at approximately $798,119,000. Moneta Group Investment Advisors LLC raised its stake in Eaton by 122,471.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,619,350 shares of the industrial products company’s stock valued at $411,107,000 after buying an additional 2,617,213 shares in the last quarter. Morgan Stanley raised its stake in Eaton by 26.2% during the fourth quarter. Morgan Stanley now owns 12,542,343 shares of the industrial products company’s stock valued at $1,968,521,000 after buying an additional 2,602,246 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Eaton during the third quarter valued at approximately $340,500,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of NYSE ETN opened at $303.22 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $121.14 billion, a price-to-earnings ratio of 37.81, a PEG ratio of 2.56 and a beta of 1.07. The stock’s fifty day simple moving average is $300.70 and its 200 day simple moving average is $254.56. Eaton Co. plc has a 52-week low of $161.12 and a 52-week high of $331.47.

Eaton (NYSE:ETN) last issued its 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 business had revenue of $5.97 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $2.06 EPS. 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 business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 11th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.24%. This is a boost from Eaton’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Friday, March 8th. Eaton’s payout ratio is presently 46.88%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ETN. UBS Group increased their price target on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Wolfe Research reiterated an “underperform” rating and set a $312.00 price target on shares of Eaton in a research report on Monday, April 8th. Berenberg Bank increased their price target on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Citigroup increased their price target on Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Evercore ISI increased their price target on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $295.60.

Insider Transactions at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $8,116,427.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction dated 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 transaction, the insider now directly owns 630 shares in the company, valued at $171,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction dated 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 transaction, the insider now owns 29,712 shares in the company, valued at $8,116,427.04. The disclosure for this sale can be found here. Insiders sold a total of 38,969 shares of company stock valued at $10,904,774 over the last quarter. Company insiders own 0.53% of the company’s stock.

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.