Levin Capital Strategies L.P. Has $3.93 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Levin Capital Strategies L.P. increased its position in Eaton Co. plc (NYSE:ETN) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,300 shares of the industrial products company’s stock after buying an additional 1,000 shares during the period. Levin Capital Strategies L.P.’s holdings in Eaton were worth $3,925,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners acquired a new position in Eaton during the 4th quarter valued at about $25,000. Valued Wealth Advisors LLC acquired a new position in Eaton during the 4th quarter valued at about $35,000. Chilton Capital Management LLC acquired a new position in Eaton during the 4th quarter valued at about $35,000. Authentikos Wealth Advisory LLC acquired a new position in Eaton during the 3rd quarter valued at about $39,000. Finally, Legacy Financial Group LLC bought a new position in shares of Eaton during the 3rd quarter worth approximately $43,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the transaction, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the transaction, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peter Denk sold 1,731 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 38,969 shares of company stock worth $10,904,774 in the last three months. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Performance

Eaton stock traded up $3.15 during mid-day trading on Thursday, reaching $315.18. The company’s stock had a trading volume of 2,235,908 shares, compared to its average volume of 2,029,349. Eaton Co. plc has a 12-month low of $165.24 and a 12-month high of $333.05. The company has a market capitalization of $125.91 billion, a P/E ratio of 36.42, a PEG ratio of 2.63 and a beta of 1.06. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.02 and a current ratio of 1.56. The firm’s fifty day moving average price is $307.35 and its two-hundred day moving average price is $260.80.

Eaton (NYSE:ETN) last released its quarterly earnings data 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. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. Eaton’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.88 EPS. Sell-side analysts predict that Eaton Co. plc will post 10.33 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.19%. Eaton’s dividend payout ratio (DPR) is currently 44.39%.

Analysts Set New Price Targets

ETN has been the topic of several recent analyst reports. Evercore ISI lifted their target price on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Bank of America lifted their target price 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. Berenberg Bank lifted their target price on shares of 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 lifted their target price for the stock from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Finally, The Goldman Sachs Group lifted their price target on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a report 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. According to MarketBeat, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $309.60.

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.