Bryn Mawr Capital Management LLC Raises Position in Eaton Co. plc (NYSE:ETN)

Bryn Mawr Capital Management LLC raised its holdings in shares of Eaton Co. plc (NYSE:ETN) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,293 shares of the industrial products company’s stock after acquiring an additional 234 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Eaton were worth $1,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ETN. Tennessee Valley Asset Management Partners bought a new stake in shares of Eaton during the 4th quarter valued at $25,000. Valued Wealth Advisors LLC bought a new stake in shares of Eaton during the 4th quarter valued at $35,000. Chilton Capital Management LLC bought a new stake in shares of Eaton during the 4th quarter valued at $35,000. Authentikos Wealth Advisory LLC bought a new stake in shares of Eaton during the 3rd quarter valued at $39,000. Finally, Legacy Financial Group LLC bought a new stake in shares of Eaton during the 3rd quarter valued at $43,000. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the completion of the sale, the insider now directly owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,969 shares of company stock valued at $10,904,774. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ETN. Berenberg Bank raised their price objective 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. Wolfe Research reiterated an “underperform” rating and issued a $312.00 price target on shares of Eaton in a report on Monday, April 8th. Bank of America lifted their price target on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. The Goldman Sachs Group lifted their price target on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, Evercore ISI lifted their price target on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $295.60.

Eaton Price Performance

ETN stock opened at $324.17 on Friday. Eaton Co. plc has a 12 month low of $162.04 and a 12 month high of $331.47. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $304.82 and a 200 day moving average price of $258.28. The stock has a market cap of $129.51 billion, a PE ratio of 40.42, a P/E/G ratio of 2.63 and a beta of 1.07.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The firm had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the previous year, the company earned $2.06 EPS. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities research analysts anticipate that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.16%. Eaton’s dividend payout ratio is presently 46.88%.

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.