Schafer Cullen Capital Management Inc. Raises Position in Eaton Co., PLC (ETN)

Schafer Cullen Capital Management Inc. increased its position in shares of Eaton Co., PLC (NYSE:ETN) by 2.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 320,142 shares of the industrial products company’s stock after purchasing an additional 6,483 shares during the quarter. Schafer Cullen Capital Management Inc.’s holdings in Eaton were worth $25,294,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of ETN. Independence Bank of Kentucky purchased a new stake in shares of Eaton during the fourth quarter worth approximately $118,000. Delpha Capital Management LLC purchased a new stake in shares of Eaton during the fourth quarter worth approximately $124,000. Fieldpoint Private Securities LLC purchased a new stake in shares of Eaton during the third quarter worth approximately $130,000. Murphy Capital Management Inc. purchased a new stake in shares of Eaton during the fourth quarter worth approximately $201,000. Finally, Montag A & Associates Inc. purchased a new stake in shares of Eaton during the fourth quarter worth approximately $201,000. Hedge funds and other institutional investors own 78.89% of the company’s stock.

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In other news, insider William J. Vanlandingham II sold 10,174 shares of the company’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $45.77, for a total value of $465,663.98. Following the transaction, the insider now owns 13,963 shares of the company’s stock, valued at approximately $639,086.51. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ken D. Semelsberger sold 15,595 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $82.67, for a total value of $1,289,238.65. Following the completion of the transaction, the insider now directly owns 104,613 shares in the company, valued at approximately $8,648,356.71. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,769 shares of company stock worth $2,083,823. Corporate insiders own 0.80% of the company’s stock.

Several analysts recently commented on the company. UBS assumed coverage on Eaton in a research report on Tuesday, January 23rd. They set a “neutral” rating and a $87.00 price target for the company. Zacks Investment Research cut Eaton from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Bank of America upgraded Eaton from an “underperform” rating to a “neutral” rating and upped their target price for the company from $81.03 to $85.00 in a report on Thursday, March 8th. JPMorgan Chase & Co. upgraded Eaton from an “underweight” rating to a “neutral” rating and set a $82.00 target price for the company in a report on Thursday, March 1st. Finally, Jefferies Group restated a “hold” rating and issued a $90.00 target price on shares of Eaton in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $88.20.

Shares of Eaton Co., PLC (NYSE:ETN) traded down $0.52 during trading on Tuesday, hitting $80.46. The stock had a trading volume of 1,709,062 shares, compared to its average volume of 2,896,002. Eaton Co., PLC has a twelve month low of $69.82 and a twelve month high of $89.85. The firm has a market cap of $35,647.40, a price-to-earnings ratio of 12.04, a PEG ratio of 1.95 and a beta of 1.36. The company has a current ratio of 1.64, a quick ratio of 1.13 and a debt-to-equity ratio of 0.41.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $1.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.04. Eaton had a return on equity of 12.84% and a net margin of 14.60%. The business had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the prior year, the company posted $1.12 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. research analysts expect that Eaton Co., PLC will post 5.15 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Monday, March 12th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, March 9th. This is a positive change from Eaton’s previous quarterly dividend of $0.60. Eaton’s dividend payout ratio is 39.52%.

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About Eaton

Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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