First Horizon Advisors Inc. Boosts Stock Holdings in Eaton Co. plc (NYSE:ETN)

First Horizon Advisors Inc. lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,045 shares of the industrial products company’s stock after buying an additional 156 shares during the quarter. First Horizon Advisors Inc.’s holdings in Eaton were worth $1,697,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC raised its holdings in shares of Eaton by 36.0% in the 3rd quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after acquiring an additional 5,270,331 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Eaton in the 3rd quarter worth approximately $340,500,000. Deutsche Bank AG raised its position in shares of Eaton by 97.5% during the 3rd quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock valued at $396,767,000 after buying an additional 918,422 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of Eaton during the 3rd quarter worth $67,305,000. Finally, International Assets Investment Management LLC grew its position in Eaton by 21,664.8% in the fourth 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. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Eaton

In other news, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the sale, 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 can be accessed through the SEC website. In related news, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 630 shares of the company’s stock, valued at $171,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction dated 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 sale, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,969 shares of company stock valued at $10,904,774. 0.53% of the stock is owned by company insiders.

Eaton Stock Up 2.0 %

Shares of NYSE:ETN opened at $320.50 on Friday. Eaton Co. plc has a 52-week low of $165.24 and a 52-week high of $333.05. The firm has a market capitalization of $128.14 billion, a P/E ratio of 37.84, a P/E/G ratio of 2.49 and a beta of 1.06. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.02 and a current ratio of 1.56. The stock has a 50 day moving average price of $307.97 and a 200-day moving average price of $261.18.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (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 analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the business earned $1.88 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Eaton Co. plc will post 10.45 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 1.17%. Eaton’s dividend payout ratio is presently 44.39%.

Analyst Upgrades and Downgrades

ETN has been the subject of a number of research reports. Mizuho reiterated a “buy” rating and issued a $355.00 price objective (up from $340.00) on shares of Eaton in a report on Wednesday. Citigroup lifted their price target on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Argus upped their price objective on shares of Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank of Canada raised shares of Eaton from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $286.00 to $371.00 in a research note on Friday, April 5th. Finally, Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $250.00 to $300.00 in a research note on Tuesday, April 2nd. One investment 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Eaton Company 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.