Eaton Co. plc (NYSE:ETN) Stock Position Increased by Lincoln National Corp

Lincoln National Corp boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 11.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,128 shares of the industrial products company’s stock after buying an additional 7,575 shares during the quarter. Lincoln National Corp’s holdings in Eaton were worth $18,333,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stratos Wealth Advisors LLC raised its position in shares of Eaton by 5.8% during the third quarter. Stratos Wealth Advisors LLC now owns 1,496 shares of the industrial products company’s stock worth $319,000 after purchasing an additional 82 shares during the period. J.W. Cole Advisors Inc. acquired a new position in shares of Eaton in the third quarter worth about $351,000. Brown Advisory Inc. increased its position in shares of Eaton by 5.3% in the third quarter. Brown Advisory Inc. now owns 37,399 shares of the industrial products company’s stock worth $7,977,000 after acquiring an additional 1,871 shares in the last quarter. Bensler LLC purchased a new stake in shares of Eaton in the 3rd quarter valued at approximately $214,000. Finally, Veracity Capital LLC acquired a new position in Eaton in the 3rd quarter worth approximately $201,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Up 0.1 %

Shares of ETN traded up $0.19 during trading hours on Tuesday, hitting $327.43. 1,680,536 shares of the company were exchanged, compared to its average volume of 2,024,172. The firm’s 50 day moving average is $309.54 and its 200-day moving average is $263.61. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. Eaton Co. plc has a 52 week low of $165.24 and a 52 week high of $333.05. The company has a market cap of $130.91 billion, a PE ratio of 38.65, a PEG ratio of 2.54 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 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.88 earnings per share. On average, equities research analysts forecast that Eaton Co. plc will post 10.45 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Friday, May 3rd. Eaton’s dividend payout ratio is currently 44.39%.

Analysts Set New Price Targets

Several brokerages have issued reports on ETN. The Goldman Sachs Group boosted their target price on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Citigroup increased their price target on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. HSBC boosted their price objective on shares of Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a research report on Friday. Finally, Bank of America increased their target price on shares of Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Insiders Place Their Bets

In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the transaction, the insider now directly owns 630 shares in the company, valued at approximately $171,360. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other 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 completion of the transaction, the insider now directly owns 29,712 shares in the company, valued at approximately $8,116,427.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction 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. In the last quarter, insiders have sold 38,969 shares of company stock valued at $10,904,774. 0.33% of the stock is currently owned by corporate insiders.

Eaton Company 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.