Eaton Co. plc (NYSE:ETN) Shares Bought by Marco Investment Management LLC

Marco Investment Management LLC raised its stake in Eaton Co. plc (NYSE:ETN) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,365 shares of the industrial products company’s stock after purchasing an additional 98 shares during the quarter. Marco Investment Management LLC’s holdings in Eaton were worth $1,774,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Tennessee Valley Asset Management Partners acquired a new position in Eaton in the fourth quarter valued at $25,000. Valued Wealth Advisors LLC acquired a new position in Eaton in the fourth quarter valued at $35,000. Chilton Capital Management LLC acquired a new position in Eaton in the fourth quarter valued at $35,000. Authentikos Wealth Advisory LLC purchased a new stake in Eaton during the third quarter valued at about $39,000. Finally, Fortitude Family Office LLC purchased a new stake in Eaton during the fourth quarter valued at about $46,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Up 0.9 %

ETN stock opened at $327.30 on Monday. Eaton Co. plc has a twelve month low of $165.24 and a twelve month high of $331.47. The company has a market cap of $130.76 billion, a PE ratio of 40.44, a price-to-earnings-growth ratio of 2.69 and a beta of 1.07. The business’s 50-day simple moving average is $304.82 and its 200 day simple moving average is $258.90. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43.

Eaton (NYSE:ETN) last released its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the business earned $2.06 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, research analysts anticipate that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s payout ratio is currently 46.88%.

Insider Transactions at Eaton

In other news, insider Olivier Leonetti sold 4,461 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the transaction, the insider now directly owns 630 shares of the company’s stock, valued at approximately $171,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the company’s stock in a transaction on 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 owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Olivier Leonetti sold 4,461 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the transaction, the insider now directly owns 630 shares in the company, valued at approximately $171,360. The disclosure for this sale can be found here. Insiders have sold 38,969 shares of company stock valued at $10,904,774 in the last three months. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Berenberg Bank boosted their price target on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $250.00 to $300.00 in a research report on Tuesday, April 2nd. UBS Group boosted their price target on Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Evercore ISI boosted their price target on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Finally, Bank of America boosted their price target on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently 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.