Horan Capital Advisors LLC. Purchases New Position in Eaton Co. plc (NYSE:ETN)

Horan Capital Advisors LLC. acquired a new stake in Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 875 shares of the industrial products company’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ETN. Vanguard Group Inc. increased its holdings in Eaton by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 36,336,041 shares of the industrial products company’s stock worth $7,749,751,000 after acquiring an additional 176,900 shares in the last quarter. FMR LLC raised its position in shares of Eaton by 36.0% during the 3rd quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock worth $4,248,960,000 after purchasing an additional 5,270,331 shares during the last quarter. Northern Trust Corp lifted its stake in Eaton by 2.2% in the 3rd quarter. Northern Trust Corp now owns 5,009,435 shares of the industrial products company’s stock valued at $1,068,412,000 after buying an additional 109,775 shares in the last quarter. Raymond James & Associates boosted its holdings in Eaton by 3.8% in the 4th quarter. Raymond James & Associates now owns 3,739,725 shares of the industrial products company’s stock worth $900,600,000 after buying an additional 138,465 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Eaton by 97.5% during the 3rd quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock worth $396,767,000 after buying an additional 918,422 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 69,472 shares in the company, valued at approximately $20,244,140.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now owns 69,472 shares in the company, valued at $20,244,140.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the sale, the insider now directly owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,969 shares of company stock worth $10,904,774. Company insiders own 0.53% of the company’s stock.

Eaton Stock Up 2.0 %

Shares of ETN stock traded up $6.15 during trading on Friday, reaching $320.50. The company’s stock had a trading volume of 1,769,790 shares, compared to its average volume of 2,741,837. The company has a market capitalization of $128.14 billion, a price-to-earnings ratio of 37.84, a P/E/G ratio of 2.54 and a beta of 1.06. Eaton Co. plc has a 1-year low of $165.24 and a 1-year high of $333.05. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.02. The stock’s 50-day moving average price is $308.68 and its 200 day moving average price is $261.94.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.88 earnings per share. On average, research analysts anticipate that Eaton Co. plc will post 10.45 EPS for the current year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Friday, May 3rd. Eaton’s dividend payout ratio is presently 44.39%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ETN. Berenberg Bank lifted their price target on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Citigroup upped their price objective on shares of Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Royal Bank of Canada raised shares of Eaton from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $286.00 to $371.00 in a research note on Friday, April 5th. Evercore ISI lifted their price target on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Finally, Wolfe Research reaffirmed an “underperform” rating and issued a $312.00 price target on shares of Eaton in a research note on Monday, April 8th. One research 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $314.27.

Eaton 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.