Keel Point LLC Acquires 54 Shares of Eaton Co. plc (NYSE:ETN)

Keel Point LLC raised its position in shares of Eaton Co. plc (NYSE:ETN) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,884 shares of the industrial products company’s stock after acquiring an additional 54 shares during the quarter. Keel Point LLC’s holdings in Eaton were worth $454,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Ritholtz Wealth Management boosted its position in Eaton by 5.1% during the fourth quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock valued at $1,379,000 after acquiring an additional 277 shares during the last quarter. BCS Wealth Management bought a new position in shares of Eaton during the 3rd quarter worth about $216,000. Pacer Advisors Inc. boosted its position 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 purchasing an additional 7,964 shares in the last quarter. Chicago Capital LLC bought a new position in shares of Eaton during the 4th quarter worth about $2,958,000. Finally, Neo Ivy Capital Management bought a new position in shares of Eaton during the 3rd quarter worth about $479,000. Institutional investors own 82.97% of the company’s stock.

Eaton Trading Down 0.6 %

Shares of ETN stock opened at $313.43 on Tuesday. The company has a 50 day moving average of $297.85 and a 200-day moving average of $252.41. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. Eaton Co. plc has a 12-month low of $161.12 and a 12-month high of $331.47. The firm has a market cap of $125.22 billion, a P/E ratio of 39.31, a PEG ratio of 2.65 and a beta of 1.07.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.08. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The company had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the business posted $2.06 EPS. Eaton’s quarterly revenue was up 10.8% compared to the same quarter last year. Sell-side analysts anticipate that Eaton Co. plc will post 10.25 earnings per share for the current year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $3.76 annualized dividend and a dividend yield of 1.20%. This is a positive change from Eaton’s previous quarterly dividend of $0.86. Eaton’s dividend payout ratio (DPR) is presently 46.88%.

Insider Transactions at Eaton

In related news, 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 value of $5,395,107.50. Following the completion of the transaction, the insider now directly owns 29,712 shares in the company, valued at approximately $8,116,427.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction that occurred 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 approximately $20,244,140.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s stock in a transaction 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 completion of 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 worth $10,904,774 in the last quarter. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ETN shares. The Goldman Sachs Group increased their price objective on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Mizuho raised their price target on shares of Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Citigroup raised their price target on shares of Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Wells Fargo & Company raised their price target on shares of Eaton from $220.00 to $257.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 19th. Finally, Berenberg Bank raised their price target 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average price target of $295.60.

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.