John G Ullman & Associates Inc. Purchases Shares of 840 Eaton Co. plc (NYSE:ETN)

John G Ullman & Associates Inc. acquired a new position in Eaton Co. plc (NYSE:ETN) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 840 shares of the industrial products company’s stock, valued at approximately $202,000.

Other large investors have also recently modified their holdings of the company. Tennessee Valley Asset Management Partners purchased a new position in shares of Eaton in the fourth quarter worth about $25,000. PCA Investment Advisory Services Inc. purchased a new position in Eaton during the 2nd quarter valued at about $27,000. Valued Wealth Advisors LLC purchased a new position in Eaton during the 4th quarter valued at about $35,000. Chilton Capital Management LLC purchased a new position in Eaton during the 4th quarter valued at about $35,000. Finally, Cornerstone Planning Group LLC bought a new stake in Eaton during the 2nd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the transaction, the insider now directly owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The disclosure for this sale can be found here. Insiders have sold 38,969 shares of company stock valued at $10,904,774 in the last ninety days. 0.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. Mizuho lifted their price objective on Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $250.00 to $300.00 in a research report on Tuesday, April 2nd. UBS Group lifted their price objective on Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Evercore ISI lifted their price objective on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Finally, Bank of America lifted their price objective on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $295.60.

Eaton Stock Performance

Shares of ETN opened at $303.22 on Friday. The business’s fifty day simple moving average is $300.70 and its two-hundred day simple moving average is $254.56. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. Eaton Co. plc has a 12 month low of $161.12 and a 12 month high of $331.47. The company has a market cap of $121.14 billion, a price-to-earnings ratio of 37.81, a P/E/G ratio of 2.56 and a beta of 1.07.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.47 by $0.08. The business had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the business posted $2.06 EPS. Research analysts anticipate that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.24%. This is a boost from Eaton’s previous quarterly dividend of $0.86. The ex-dividend date was Friday, March 8th. Eaton’s dividend payout ratio is presently 46.88%.

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.