Pittenger & Anderson Inc. Buys 1,005 Shares of Eaton Co. plc (NYSE:ETN)

Pittenger & Anderson Inc. raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 1.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 67,242 shares of the industrial products company’s stock after purchasing an additional 1,005 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Eaton were worth $16,193,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. FMR LLC increased its stake in Eaton by 36.0% in the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after acquiring an additional 5,270,331 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Eaton in the third quarter valued at about $340,500,000. Deutsche Bank AG increased its stake in Eaton by 97.5% in the third quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock valued at $396,767,000 after acquiring an additional 918,422 shares during the period. Artisan Partners Limited Partnership acquired a new position in Eaton in the third quarter valued at about $67,305,000. Finally, International Assets Investment Management LLC boosted its position in Eaton by 21,664.8% in the fourth quarter. International Assets Investment Management LLC now owns 316,242 shares of the industrial products company’s stock valued at $76,157,000 after buying an additional 314,789 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

ETN has been the topic of a number of recent analyst reports. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $286.00 to $371.00 in a research report on Friday, April 5th. Berenberg Bank boosted their price target on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Mizuho boosted their price target on shares of Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group boosted their price target on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Finally, UBS Group upped their target price on shares of Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $295.60.

Eaton Trading Up 2.4 %

NYSE ETN traded up $7.74 during trading hours on Friday, hitting $324.84. The company’s stock had a trading volume of 1,233,975 shares, compared to its average volume of 1,943,329. The stock has a fifty day moving average of $303.89 and a 200 day moving average of $257.51. Eaton Co. plc has a twelve month low of $162.04 and a twelve month high of $331.47. The firm has a market capitalization of $129.77 billion, a P/E ratio of 39.54, a PEG ratio of 2.64 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.

Eaton (NYSE:ETN) last announced its quarterly earnings data 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. 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 analyst estimates of $5.91 billion. During the same period in the prior year, the business posted $2.06 earnings per share. Eaton’s revenue was up 10.8% compared to the same quarter last year. Equities research analysts forecast that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s payout ratio is presently 46.88%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the company’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 value of $5,395,107.50. Following the completion of the sale, the insider now owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Olivier Leonetti sold 4,461 shares of the firm’s 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 completion of the transaction, the insider now owns 630 shares of the company’s stock, valued at $171,360. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s 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 completion of the transaction, the insider now directly owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,969 shares of company stock valued at $10,904,774. Corporate insiders own 0.53% of the company’s stock.

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.