Eaton Co. plc (NYSE:ETN) Shares Bought by McIlrath & Eck LLC

McIlrath & Eck LLC increased its stake in Eaton Co. plc (NYSE:ETN) by 27.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 267 shares of the industrial products company’s stock after acquiring an additional 57 shares during the quarter. McIlrath & Eck LLC’s holdings in Eaton were worth $64,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. boosted its position in shares of Eaton by 3.3% in the fourth quarter. Meeder Asset Management Inc. now owns 1,315 shares of the industrial products company’s stock worth $317,000 after buying an additional 42 shares during the period. Telemus Capital LLC lifted its position in shares of Eaton by 1.0% in the fourth quarter. Telemus Capital LLC now owns 4,111 shares of the industrial products company’s stock worth $990,000 after purchasing an additional 42 shares in the last quarter. Amarillo National Bank boosted its holdings in shares of Eaton by 3.5% during the fourth quarter. Amarillo National Bank now owns 1,270 shares of the industrial products company’s stock worth $306,000 after purchasing an additional 43 shares during the period. Monument Capital Management grew its position in Eaton by 1.9% during the fourth quarter. Monument Capital Management now owns 2,415 shares of the industrial products company’s stock valued at $582,000 after purchasing an additional 44 shares in the last quarter. Finally, Red Spruce Capital LLC lifted its position in Eaton by 0.3% in the 4th quarter. Red Spruce Capital LLC now owns 17,522 shares of the industrial products company’s stock worth $4,220,000 after buying an additional 45 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Eaton

In related news, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the completion of the transaction, the insider now directly owns 630 shares of the company’s stock, valued at approximately $171,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Peter Denk sold 1,731 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the sale, the insider now owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,969 shares of company stock valued at $10,904,774. 0.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $250.00 to $300.00 in a report on Tuesday, April 2nd. Bank of America increased their price target on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. The Goldman Sachs Group boosted their price objective on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Mizuho reiterated a “buy” rating and issued a $355.00 target price (up previously from $340.00) on shares of Eaton in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on shares of Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $302.93.

Eaton Stock Performance

ETN traded down $3.50 during trading on Thursday, reaching $308.53. 1,008,229 shares of the company’s stock were exchanged, compared to its average volume of 2,012,901. Eaton Co. plc has a fifty-two week low of $165.24 and a fifty-two week high of $333.05. The company has a market capitalization of $123.26 billion, a P/E ratio of 36.84, a PEG ratio of 2.63 and a beta of 1.06. The company has a quick ratio of 1.02, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. The business has a 50 day moving average price of $307.35 and a 200 day moving average price of $260.80.

Eaton (NYSE:ETN) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The business had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the firm posted $1.88 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, analysts predict that Eaton Co. plc will post 10.33 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, May 3rd. This represents a $3.76 annualized dividend and a yield of 1.22%. Eaton’s dividend payout ratio is currently 44.39%.

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.