Pekin Hardy Strauss Inc. Has $2.91 Million Position in Eaton Co. plc (NYSE:ETN)

Pekin Hardy Strauss Inc. decreased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 12,075 shares of the industrial products company’s stock after selling 125 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Eaton were worth $2,908,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Tennessee Valley Asset Management Partners acquired a new stake in shares of Eaton in the fourth quarter worth $25,000. Valued Wealth Advisors LLC acquired a new stake in shares of Eaton in the fourth quarter valued at about $35,000. Chilton Capital Management LLC bought a new position in shares of Eaton in the fourth quarter worth about $35,000. Authentikos Wealth Advisory LLC acquired a new position in shares of Eaton during the 3rd quarter worth about $39,000. Finally, Legacy Financial Group LLC acquired a new stake in Eaton in the 3rd quarter valued at approximately $43,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Eaton

In related news, insider Olivier Leonetti sold 4,461 shares of the business’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 transaction, the insider now owns 630 shares in the company, valued at approximately $171,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Peter Denk sold 1,731 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was 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 owns 5,514 shares in the company, valued at $1,593,380.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction dated 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 owns 630 shares in the company, valued at approximately $171,360. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,969 shares of company stock worth $10,904,774. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ETN shares. Wolfe Research reissued an “underperform” rating and issued a $312.00 price objective on shares of Eaton in a research report on Monday, April 8th. Mizuho upped their price objective 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. UBS Group upped their price target on Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Evercore ISI lifted their price objective on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Finally, Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $286.00 to $371.00 in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average price target of $295.60.

Eaton Price Performance

Shares of Eaton stock traded down $8.25 during mid-day trading on Tuesday, reaching $318.26. 5,267,331 shares of the stock were exchanged, compared to its average volume of 2,011,320. The company has a market cap of $127.14 billion, a price-to-earnings ratio of 40.75, a price-to-earnings-growth ratio of 2.69 and a beta of 1.07. Eaton Co. plc has a fifty-two week low of $165.24 and a fifty-two week high of $333.06. 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 firm has a 50-day simple moving average of $305.81 and a 200 day simple moving average of $259.67.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. The firm had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period last year, the firm posted $2.06 EPS. On average, sell-side analysts predict that Eaton Co. plc will post 10.28 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s payout ratio is presently 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.