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

Monument Capital Management increased its stake in shares of Eaton Co. plc (NYSE:ETN) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,415 shares of the industrial products company’s stock after purchasing an additional 44 shares during the quarter. Monument Capital Management’s holdings in Eaton were worth $582,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ETN. Ritholtz Wealth Management boosted its stake in Eaton by 5.1% in 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. Pacer Advisors Inc. boosted its stake in Eaton by 30.5% in the fourth quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock valued at $8,205,000 after acquiring an additional 7,964 shares during the last quarter. Chicago Capital LLC bought a new position in shares of Eaton in the 4th quarter valued at about $2,958,000. Neo Ivy Capital Management bought a new position in shares of Eaton in the 3rd quarter valued at about $479,000. Finally, Patriot Financial Group Insurance Agency LLC grew its position in shares of Eaton by 13.6% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,458 shares of the industrial products company’s stock valued at $351,000 after acquiring an additional 174 shares during the period. 82.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the business’s 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 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 news, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the sale, the insider now directly owns 5,514 shares in the company, valued at approximately $1,593,380.58. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the sale, the insider now owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The disclosure for this sale can be found here. Insiders sold a total of 38,969 shares of company stock valued at $10,904,774 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

Eaton Price Performance

Shares of NYSE:ETN opened at $308.18 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 1.02 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 stock has a market cap of $123.12 billion, a P/E ratio of 38.43, a P/E/G ratio of 2.51 and a beta of 1.07. The company has a 50 day moving average of $301.39 and a 200 day moving average of $255.94.

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 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 company earned $2.06 EPS. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Eaton Co. plc will post 10.28 EPS for the current fiscal year.

Eaton Increases Dividend

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

Analyst Upgrades and Downgrades

ETN has been the subject of several research analyst reports. Evercore ISI lifted their target price on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Mizuho boosted their target price 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. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $286.00 to $371.00 in a research report on Friday, April 5th. The Goldman Sachs Group upped 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. Finally, Wolfe Research reaffirmed an “underperform” rating and issued a $312.00 price objective on shares of Eaton in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.