Sheaff Brock Investment Advisors LLC Makes New $1.16 Million Investment in Eaton Co. plc (NYSE:ETN)

Sheaff Brock Investment Advisors LLC acquired a new stake in Eaton Co. plc (NYSE:ETNFree Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,829 shares of the industrial products company’s stock, valued at approximately $1,163,000.

Several other hedge funds and other institutional investors have also modified their holdings of ETN. FMR LLC increased 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 in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Eaton during the third quarter worth about $340,500,000. Deutsche Bank AG increased its holdings in shares of Eaton by 97.5% during the third 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. Artisan Partners Limited Partnership bought a new position in shares of Eaton in the third quarter valued at approximately $67,305,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of Eaton by 21,664.8% in the 4th quarter. International Assets Investment Management LLC now owns 316,242 shares of the industrial products company’s stock worth $76,157,000 after acquiring an additional 314,789 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In related news, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the sale, the insider now owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 69,472 shares in the company, valued at approximately $20,244,140.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Peter Denk sold 2,416 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total transaction of $801,725.44. Following the sale, the insider now owns 5,086 shares in the company, valued at $1,687,738.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,174 shares of company stock worth $5,098,000. 0.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Royal Bank of Canada upgraded Eaton from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $286.00 to $371.00 in a research report on Friday, April 5th. Argus upped their price target on shares of Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Berenberg Bank increased their price objective on shares of Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Evercore ISI boosted their target price on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Finally, UBS Group increased their price target on shares of Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $314.27.

Read Our Latest Report on ETN

Eaton Trading Up 0.0 %

Shares of Eaton stock traded up $0.06 on Friday, hitting $330.24. 1,881,539 shares of the company’s stock traded hands, compared to its average volume of 2,429,416. Eaton Co. plc has a one year low of $167.33 and a one year high of $338.88. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05. The stock has a market capitalization of $132.03 billion, a PE ratio of 38.99, a price-to-earnings-growth ratio of 2.60 and a beta of 1.06. The firm’s 50-day moving average price is $316.38 and its two-hundred day moving average price is $271.53.

Eaton (NYSE:ETNGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the company posted $1.88 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. On average, research analysts expect that Eaton Co. plc will post 10.51 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed 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 1.14%. The ex-dividend date is Friday, May 3rd. Eaton’s payout ratio is 44.39%.

Eaton Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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