EdgeRock Capital LLC Invests $79,000 in Eaton Co. plc (NYSE:ETN)

EdgeRock Capital LLC purchased a new stake in shares of Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 327 shares of the industrial products company’s stock, valued at approximately $79,000.

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

Insider Buying and Selling

In other Eaton news, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction dated Tuesday, February 13th. The stock was 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 owns 630 shares in the company, valued at approximately $171,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the company’s stock in a transaction that occurred 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 owns 630 shares in the company, valued at approximately $171,360. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the transaction, 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. Insiders sold a total of 38,969 shares of company stock valued at $10,904,774 over the last 90 days. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Citigroup raised their price objective on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. raised 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, May 1st. UBS Group boosted their price objective on shares of Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Argus raised their target price on shares of Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, The Goldman Sachs Group upped their price target on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. One 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $314.27.

Eaton Stock Performance

ETN stock traded up $0.06 during midday trading on Tuesday, reaching $327.30. The stock had a trading volume of 1,792,924 shares, compared to its average volume of 2,025,208. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. The firm has a fifty day simple moving average of $310.41 and a two-hundred day simple moving average of $264.55. The stock has a market cap of $130.85 billion, a PE ratio of 38.64, a P/E/G ratio of 2.54 and a beta of 1.06. Eaton Co. plc has a 52-week low of $165.24 and a 52-week high of $333.05.

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

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.15%. Eaton’s payout ratio is currently 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.