Monument Capital Management Acquires 44 Shares of Eaton Co. plc (NYSE:ETN)

Monument Capital Management boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 1.9% during the 4th quarter, HoldingsChannel reports. The fund owned 2,415 shares of the industrial products company’s stock after buying an additional 44 shares during the quarter. Monument Capital Management’s holdings in Eaton were worth $582,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners acquired a new stake in Eaton during the fourth quarter valued at approximately $25,000. Valued Wealth Advisors LLC acquired a new stake in Eaton during the fourth quarter valued at approximately $35,000. Chilton Capital Management LLC acquired a new stake in Eaton during the fourth quarter valued at approximately $35,000. Authentikos Wealth Advisory LLC acquired a new stake in Eaton during the third quarter valued at approximately $39,000. Finally, Legacy Financial Group LLC acquired a new stake in Eaton during the third quarter valued at approximately $43,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ETN. Berenberg Bank lifted their price objective on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Citigroup boosted 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. Evercore ISI boosted their target price on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. UBS Group boosted their target price on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $250.00 to $300.00 in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $295.60.

Eaton Stock Performance

Shares of Eaton stock opened at $308.18 on Tuesday. The firm has a fifty day moving average of $301.39 and a two-hundred day moving average of $255.94. The stock has a market capitalization of $123.12 billion, a price-to-earnings ratio of 38.43, a PEG ratio of 2.51 and a beta of 1.07. Eaton Co. plc has a 52 week low of $161.12 and a 52 week high of $331.47. 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 (NYSE:ETN) last issued its earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.47 by $0.08. The company had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.06 EPS. As a group, equities research analysts predict that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were given a dividend of $0.94 per share. This is a boost from Eaton’s previous quarterly dividend of $0.86. The ex-dividend date was Friday, March 8th. This represents a $3.76 annualized dividend and a dividend yield of 1.22%. Eaton’s payout ratio is presently 46.88%.

Insider Buying and Selling at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the company’s stock in a transaction 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 sale, the insider now owns 29,712 shares in the company, valued at approximately $8,116,427.04. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Olivier Leonetti sold 4,461 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 630 shares in the company, valued at approximately $171,360. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction dated 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 transaction, the insider now owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,969 shares of company stock worth $10,904,774. Insiders own 0.33% of the company’s stock.

About Eaton

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.