Eaton Co. plc (NYSE:ETN) Position Increased by Dakota Wealth Management

Dakota Wealth Management increased its stake in Eaton Co. plc (NYSE:ETN) by 6.3% during the 4th quarter, HoldingsChannel reports. The firm owned 19,275 shares of the industrial products company’s stock after acquiring an additional 1,134 shares during the period. Dakota Wealth Management’s holdings in Eaton were worth $4,642,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ETN. Tennessee Valley Asset Management Partners bought a new stake in Eaton during the 4th quarter valued at $25,000. PCA Investment Advisory Services Inc. acquired a new position in shares of Eaton in the 2nd quarter worth $27,000. Coppell Advisory Solutions Corp. acquired a new position in shares of Eaton in the 4th quarter worth $30,000. Global Trust Asset Management LLC acquired a new position in shares of Eaton in the 3rd quarter worth $32,000. Finally, Valued Wealth Advisors LLC acquired a new position in shares of Eaton in the 4th quarter worth $35,000. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the transaction, the insider now directly owns 29,712 shares in the company, valued at $8,116,427.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the transaction, the insider now directly owns 29,712 shares in the company, valued at $8,116,427.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Olivier Leonetti sold 4,461 shares of the company’s stock in a transaction that occurred 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 $171,360. The disclosure for this sale can be found here. Insiders have sold 38,969 shares of company stock worth $10,904,774 over the last three months. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Royal Bank of Canada upgraded Eaton from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $286.00 to $371.00 in a report on Friday, April 5th. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $250.00 to $300.00 in a report on Tuesday, April 2nd. Mizuho lifted their price objective on Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group lifted their price objective on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Finally, Berenberg Bank lifted their price objective on 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 assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $295.60.

Eaton Price Performance

NYSE ETN opened at $315.28 on Tuesday. Eaton Co. plc has a twelve month low of $161.12 and a twelve month 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. The stock has a market capitalization of $125.95 billion, a PE ratio of 39.31, a P/E/G ratio of 2.65 and a beta of 1.07. The stock has a 50-day simple moving average of $297.85 and a 200 day simple moving average of $252.41.

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

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 11th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.19%. This is a positive change from Eaton’s previous quarterly dividend of $0.86. The ex-dividend date was Friday, March 8th. Eaton’s payout ratio is currently 46.88%.

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.