1,301 Shares in Eaton Co. plc (NYSE:ETN) Bought by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC acquired a new stake in Eaton Co. plc (NYSE:ETN) in the fourth quarter, Holdings Channel.com reports. The firm acquired 1,301 shares of the industrial products company’s stock, valued at approximately $313,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ETN. Tennessee Valley Asset Management Partners acquired a new position in shares of Eaton during the fourth quarter valued at approximately $25,000. Valued Wealth Advisors LLC acquired a new position in Eaton in the 4th quarter valued at $35,000. Chilton Capital Management LLC purchased a new position in Eaton in the 4th quarter valued at $35,000. Authentikos Wealth Advisory LLC acquired a new position in Eaton during the third quarter worth about $39,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Eaton in the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on ETN shares. 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. Berenberg Bank raised their price objective on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Citigroup boosted their price target on shares of Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, UBS Group raised their target price on Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Insider Activity at Eaton

In other Eaton news, insider Peter Denk sold 1,731 shares of Eaton stock in a transaction on 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 transaction, the insider now owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the sale, the insider now directly owns 630 shares of the company’s stock, valued at $171,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 directly 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. Insiders sold a total of 38,969 shares of company stock valued at $10,904,774 over the last three months. 0.53% of the stock is owned by insiders.

Eaton Stock Up 1.5 %

NYSE:ETN traded up $4.86 during midday trading on Monday, hitting $325.36. 686,256 shares of the company were exchanged, compared to its average volume of 2,020,550. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. 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 $130.08 billion, a PE ratio of 37.84, a price-to-earnings-growth ratio of 2.54 and a beta of 1.06. The company has a fifty day simple moving average of $308.68 and a 200 day simple moving average of $262.71.

Eaton (NYSE:ETN) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $5.91 billion. During the same period last year, the firm posted $1.88 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities analysts anticipate that Eaton Co. plc will post 10.45 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s payout ratio is 44.39%.

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.