Charles Schwab Investment Management Inc. Boosts Stock Position in Eaton Co. plc (NYSE:ETN)

Charles Schwab Investment Management Inc. raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 1.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,163,432 shares of the industrial products company’s stock after buying an additional 27,386 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Eaton were worth $520,998,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners bought a new position in Eaton in the 4th quarter worth about $25,000. Valued Wealth Advisors LLC bought a new position in shares of Eaton in the fourth quarter worth approximately $35,000. Chilton Capital Management LLC purchased a new stake in shares of Eaton during the fourth quarter valued at approximately $35,000. Authentikos Wealth Advisory LLC purchased a new position in Eaton in the 3rd quarter worth approximately $39,000. Finally, Fortitude Family Office LLC bought a new position in Eaton in the 4th quarter valued at approximately $46,000. 82.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 value of $3,796,067.80. Following the transaction, the insider now owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the sale, the insider now directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 of the company’s stock, valued at $171,360. 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. 0.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

ETN has been the subject of a number of research analyst reports. Barclays raised 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 report on Tuesday, April 2nd. Mizuho restated a “buy” rating and set a $355.00 target price (up previously from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. Argus lifted their price target on shares of Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Berenberg Bank increased their price objective 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. Finally, JPMorgan Chase & Co. lifted their target price on shares of Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Eaton Stock Performance

ETN traded up $0.06 during midday trading on Tuesday, reaching $327.30. The company had a trading volume of 1,792,924 shares, compared to its average volume of 2,025,208. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. Eaton Co. plc has a 1 year low of $165.24 and a 1 year high of $333.05. The company has a market cap of $130.85 billion, a P/E ratio of 38.64, a P/E/G ratio of 2.54 and a beta of 1.06. The business has a 50-day moving average of $310.41 and a two-hundred day moving average of $264.55.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.28 by $0.12. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the firm earned $1.88 EPS. The company’s revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts predict that Eaton Co. plc will post 10.45 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.15%. The ex-dividend date is Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

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.