Eaton Co. plc (NYSE:ETN) Shares Bought by SlateStone Wealth LLC

SlateStone Wealth LLC grew its position in Eaton Co. plc (NYSE:ETN) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,626 shares of the industrial products company’s stock after buying an additional 155 shares during the quarter. SlateStone Wealth LLC’s holdings in Eaton were worth $1,596,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Tennessee Valley Asset Management Partners purchased a new position in shares of Eaton in the fourth quarter valued at $25,000. Valued Wealth Advisors LLC purchased a new position in shares of Eaton in the fourth quarter valued at $35,000. Chilton Capital Management LLC purchased a new position in shares of Eaton in the fourth quarter valued at $35,000. Authentikos Wealth Advisory LLC purchased a new position in shares of Eaton in the third quarter valued at $39,000. Finally, Fortitude Family Office LLC purchased a new stake in Eaton during the 4th quarter worth about $46,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Evercore ISI lifted their price objective on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Royal Bank of Canada upgraded Eaton from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $286.00 to $371.00 in a research report on Friday, April 5th. The Goldman Sachs Group lifted their price objective on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Finally, Wolfe Research restated an “underperform” rating and issued a $312.00 price target on shares of Eaton in a report on Monday, April 8th. 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $295.60.

Eaton Stock Up 1.6 %

Shares of Eaton stock traded up $4.99 on Tuesday, hitting $313.08. 1,729,695 shares of the company’s stock traded hands, compared to its average volume of 1,911,916. The stock has a market cap of $125.08 billion, a P/E ratio of 38.43, a PEG ratio of 2.51 and a beta of 1.07. 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 firm’s 50-day moving average is $301.39 and its 200 day moving average is $255.94. Eaton Co. plc has a 52-week low of $161.12 and a 52-week high of $331.47.

Eaton (NYSE:ETN) last released 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 company had revenue of $5.97 billion during 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 business’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.06 EPS. Equities analysts anticipate that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.20%. Eaton’s dividend payout ratio (DPR) is presently 46.88%.

Insider Buying and Selling

In related news, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction 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 directly 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. In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the 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 sale, the insider now directly owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction on 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 completion of the sale, the insider now directly owns 630 shares in the company, valued at $171,360. The disclosure for this sale can be found here. Insiders have sold 38,969 shares of company stock worth $10,904,774 over the last ninety days. 0.33% of the stock is owned by insiders.

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.