Bank of New Hampshire Increases Position in Eaton Co. plc (NYSE:ETN)

Bank of New Hampshire increased its stake in shares of Eaton Co. plc (NYSE:ETN) by 983.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,500 shares of the industrial products company’s stock after buying an additional 5,900 shares during the quarter. Bank of New Hampshire’s holdings in Eaton were worth $1,565,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ETN. Tennessee Valley Asset Management Partners acquired a new position in Eaton during the fourth quarter valued at $25,000. Valued Wealth Advisors LLC acquired a new position in shares of Eaton in the fourth quarter worth about $35,000. Chilton Capital Management LLC acquired a new position in shares of Eaton in the fourth quarter worth about $35,000. Authentikos Wealth Advisory LLC acquired a new position in shares of Eaton in the third quarter worth about $39,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Eaton in the fourth quarter worth about $46,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ETN has been the subject of a number of analyst reports. Bank of America upped their price objective 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. Evercore ISI boosted their target price on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Berenberg Bank upped their price objective on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Finally, The Goldman Sachs Group upped their price objective on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $295.60.

Insider Buying and Selling

In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction 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 sale, the insider now directly owns 29,712 shares in the company, valued at approximately $8,116,427.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Eaton news, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction on Tuesday, February 13th. The shares were 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 document filed with the SEC, which is available at the SEC website. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following 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 have sold 38,969 shares of company stock worth $10,904,774 in the last ninety days. 0.53% of the stock is owned by corporate insiders.

Eaton Stock Up 2.5 %

ETN stock traded up $7.85 during midday trading on Friday, hitting $324.95. The company’s stock had a trading volume of 1,119,505 shares, compared to its average volume of 1,941,382. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. Eaton Co. plc has a 52-week low of $162.04 and a 52-week high of $331.47. The firm has a market capitalization of $129.82 billion, a P/E ratio of 39.54, a PEG ratio of 2.64 and a beta of 1.07. The firm has a 50-day simple moving average of $303.89 and a 200-day simple moving average of $257.51.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.08. The business had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.06 EPS. As a group, equities analysts forecast that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 annualized dividend and a yield of 1.16%. Eaton’s dividend payout ratio is currently 46.88%.

Eaton Company 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.