First Horizon Advisors Inc. Increases Stock Position in Eaton Co. plc (NYSE:ETN)

First Horizon Advisors Inc. increased its stake in shares of Eaton Co. plc (NYSE:ETN) by 2.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,045 shares of the industrial products company’s stock after buying an additional 156 shares during the period. 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 added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners purchased a new stake in Eaton during the fourth quarter worth about $25,000. Valued Wealth Advisors LLC acquired a new stake in Eaton during the 4th quarter worth approximately $35,000. Chilton Capital Management LLC acquired a new position in shares of Eaton in the fourth quarter worth $35,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of Eaton during the third quarter worth $39,000. Finally, Legacy Financial Group LLC acquired a new position in Eaton during the 3rd quarter worth $43,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Evercore ISI boosted their price objective on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. increased their price objective on shares of Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday. HSBC lifted their price objective on shares of Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a research report on Friday. Bank of America increased their target price on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, The Goldman Sachs Group upped their price objective on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. 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. According to data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Eaton Stock Up 2.0 %

ETN stock opened at $320.50 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.02. The company’s 50 day simple moving average is $307.97 and its 200-day simple moving average is $261.18. Eaton Co. plc has a 12 month low of $165.24 and a 12 month high of $333.05. The firm has a market capitalization of $128.14 billion, a PE ratio of 37.84, a P/E/G ratio of 2.49 and a beta of 1.06.

Eaton (NYSE:ETN) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.88 earnings per share. Equities analysts expect that Eaton Co. plc will post 10.45 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is 44.39%.

Insider Activity

In other Eaton news, insider Peter Denk sold 1,731 shares of Eaton 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 approximately $1,593,380.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the completion of the transaction, the insider now directly owns 5,514 shares in the company, valued at approximately $1,593,380.58. 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 over the last quarter. Company insiders own 0.53% of the company’s stock.

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.