Stevens Capital Management LP Makes New Investment in Eaton Co. plc (NYSE:ETN)

Stevens Capital Management LP acquired a new stake in shares of Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,933 shares of the industrial products company’s stock, valued at approximately $947,000.

A number of other institutional investors also recently modified their holdings of ETN. DAVENPORT & Co LLC boosted its stake in Eaton by 6.6% during the 3rd quarter. DAVENPORT & Co LLC now owns 23,890 shares of the industrial products company’s stock valued at $5,096,000 after purchasing an additional 1,480 shares during the last quarter. Avior Wealth Management LLC raised its position in Eaton by 69.5% in the 3rd quarter. Avior Wealth Management LLC now owns 222 shares of the industrial products company’s stock valued at $47,000 after buying an additional 91 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake in Eaton by 12.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 664 shares of the industrial products company’s stock valued at $139,000 after acquiring an additional 75 shares in the last quarter. Meridian Wealth Management LLC boosted its holdings in Eaton by 17.2% during the 3rd quarter. Meridian Wealth Management LLC now owns 1,379 shares of the industrial products company’s stock worth $294,000 after acquiring an additional 202 shares during the last quarter. Finally, Private Trust Co. NA grew its position in Eaton by 1.2% in the 3rd quarter. Private Trust Co. NA now owns 7,240 shares of the industrial products company’s stock worth $1,544,000 after purchasing an additional 86 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on ETN shares. Wolfe Research reaffirmed an “underperform” rating and set a $312.00 price target on shares of Eaton in a research report on Monday, April 8th. Berenberg Bank raised their price target on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Mizuho boosted their price objective on Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Bank of America lifted their target price on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, UBS Group increased their price target on shares of Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Eaton has an average rating of “Moderate Buy” and an average target price of $295.60.

Insider Buying and Selling at Eaton

In other Eaton news, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, the insider now owns 5,514 shares in the company, valued at $1,593,380.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Peter Denk sold 1,731 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $1,593,380.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the sale, the insider now owns 69,472 shares of the company’s stock, valued at $20,244,140.80. 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 in the last three months. 0.53% of the stock is currently owned by corporate insiders.

Eaton Stock Down 0.5 %

Shares of NYSE:ETN traded down $1.69 during trading on Thursday, reaching $317.10. 2,417,818 shares of the stock traded hands, compared to its average volume of 1,952,214. The stock has a market cap of $126.68 billion, a P/E ratio of 39.77, a price-to-earnings-growth ratio of 2.59 and a beta of 1.07. 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 50-day moving average of $303.06 and a two-hundred day moving average of $257.09. 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 quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.08. The firm 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 revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.06 EPS. As a group, sell-side analysts expect that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is 46.88%.

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.