Panoramic Investment Advisors LLC Acquires New Stake in Eaton Co. plc (NYSE:ETN)

Panoramic Investment Advisors LLC purchased a new position in shares of Eaton Co. plc (NYSE:ETNFree Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 921 shares of the industrial products company’s stock, valued at approximately $222,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Ritholtz Wealth Management increased its holdings in shares of Eaton by 5.1% in the fourth quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock worth $1,379,000 after buying an additional 277 shares during the period. BCS Wealth Management purchased a new position in shares of Eaton during the 3rd quarter worth approximately $216,000. Pacer Advisors Inc. grew its holdings in shares of Eaton by 30.5% during the 4th quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock worth $8,205,000 after acquiring an additional 7,964 shares during the period. Sandler Capital Management grew its holdings in shares of Eaton by 102.2% during the 2nd quarter. Sandler Capital Management now owns 95,768 shares of the industrial products company’s stock worth $19,259,000 after acquiring an additional 48,410 shares during the period. Finally, Chicago Capital LLC purchased a new position in shares of Eaton during the 4th quarter worth approximately $2,958,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of NYSE ETN traded up $6.89 during midday trading on Wednesday, hitting $321.64. 1,402,902 shares of the stock traded hands, compared to its average volume of 1,778,872. The firm has a 50-day moving average of $285.96 and a two-hundred day moving average of $245.74. The firm has a market capitalization of $128.50 billion, a P/E ratio of 39.96, a PEG ratio of 2.59 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.51. Eaton Co. plc has a one year low of $155.38 and a one year high of $322.36.

Eaton (NYSE:ETNGet Free Report) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.08. The firm had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.06 EPS. On average, equities analysts forecast that Eaton Co. plc will post 10.25 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.17%. This is a positive change from Eaton’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Friday, March 8th. Eaton’s dividend payout ratio is 46.88%.

Insider Transactions at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the sale, the insider now owns 29,712 shares in the company, valued at approximately $8,116,427.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the transaction, the insider now directly owns 630 shares of the company’s stock, valued at approximately $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. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on ETN shares. Citigroup upped their target price on Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Bank of America boosted their price target on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. UBS Group boosted their price target on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Wells Fargo & Company boosted their price target on Eaton from $220.00 to $257.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 19th. Finally, Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $250.00 to $300.00 in a research report on Tuesday. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Eaton has a consensus rating of “Moderate Buy” and an average price target of $281.73.

Check Out Our Latest Research Report on ETN

Eaton Company 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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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