Schnieders Capital Management LLC Takes Position in Eaton Co. plc (NYSE:ETN)

Schnieders Capital Management LLC acquired a new position in Eaton Co. plc (NYSE:ETN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 936 shares of the industrial products company’s stock, valued at approximately $225,000.

Other large investors have also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners bought a new stake in Eaton in the fourth quarter worth $25,000. Valued Wealth Advisors LLC bought a new stake in Eaton in the fourth quarter worth $35,000. Chilton Capital Management LLC bought a new stake in Eaton in the fourth quarter worth $35,000. Authentikos Wealth Advisory LLC bought a new stake in Eaton in the third quarter worth $39,000. Finally, Legacy Financial Group LLC bought a new stake in Eaton during the third quarter valued at about $43,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Price Performance

Eaton stock traded up $5.95 during trading hours on Wednesday, hitting $318.79. 3,336,358 shares of the stock were exchanged, compared to its average volume of 1,943,611. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.51. The stock has a market capitalization of $127.36 billion, a P/E ratio of 39.02, a P/E/G ratio of 2.55 and a beta of 1.07. Eaton Co. plc has a 12 month low of $161.12 and a 12 month high of $331.47. The business’s 50-day moving average is $302.20 and its two-hundred day moving average is $256.66.

Eaton (NYSE:ETN) last released its quarterly 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. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The business had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the prior year, the firm earned $2.06 earnings per share. Eaton’s revenue was up 10.8% compared to the same quarter last year. Equities research analysts expect that Eaton Co. plc will post 10.28 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders 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 dividend yield of 1.18%. Eaton’s dividend payout ratio (DPR) is currently 46.88%.

Wall Street Analyst Weigh In

ETN has been the subject of a number of recent analyst reports. Wolfe Research restated an “underperform” rating and set a $312.00 price target on shares of Eaton in a report on Monday, April 8th. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $286.00 to $371.00 in a report on Friday, April 5th. Mizuho increased their price target on shares of Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Citigroup increased their price target on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Bank of America increased their price target on shares of Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. One 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. Based on data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $295.60.

Insider Activity

In other Eaton news, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were 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 $1,593,380.58. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Eaton news, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were 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 $1,593,380.58. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the completion of the transaction, the insider now directly owns 29,712 shares in the company, valued at $8,116,427.04. The disclosure for this sale can be found here. Insiders have sold 38,969 shares of company stock valued at $10,904,774 over the last three months. 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.