Eaton Co. plc (NYSE:ETN) Stock Position Lifted by Consolidated Planning Corp

Consolidated Planning Corp boosted its stake in shares of Eaton Co. plc (NYSE:ETN) by 1.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,756 shares of the industrial products company’s stock after purchasing an additional 265 shares during the period. Eaton comprises approximately 1.1% of Consolidated Planning Corp’s holdings, making the stock its 22nd largest position. Consolidated Planning Corp’s holdings in Eaton were worth $5,962,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its position in Eaton by 3.3% in the 4th quarter. Meeder Asset Management Inc. now owns 1,315 shares of the industrial products company’s stock valued at $317,000 after acquiring an additional 42 shares in the last quarter. Telemus Capital LLC increased its position in Eaton by 1.0% in the 4th quarter. Telemus Capital LLC now owns 4,111 shares of the industrial products company’s stock valued at $990,000 after acquiring an additional 42 shares in the last quarter. Amarillo National Bank grew its position in shares of Eaton by 3.5% during the 4th quarter. Amarillo National Bank now owns 1,270 shares of the industrial products company’s stock worth $306,000 after buying an additional 43 shares during the period. Monument Capital Management grew its position in shares of Eaton by 1.9% during the 4th quarter. Monument Capital Management now owns 2,415 shares of the industrial products company’s stock worth $582,000 after buying an additional 44 shares during the period. Finally, Red Spruce Capital LLC grew its position in shares of Eaton by 0.3% during the 4th quarter. Red Spruce Capital LLC now owns 17,522 shares of the industrial products company’s stock worth $4,220,000 after buying an additional 45 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Bank of America lifted their price target 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. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Citigroup lifted 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. UBS Group lifted their price objective on shares of Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Berenberg Bank lifted their price objective on shares of Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $295.60.

Insider Transactions at Eaton

In other news, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the sale, the insider now owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Peter Denk sold 1,731 shares of the business’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 transaction, the insider now directly owns 5,514 shares in the company, valued at $1,593,380.58. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the transaction, the insider now owns 69,472 shares in the company, valued at $20,244,140.80. The disclosure for this sale can be found here. Insiders have sold a total of 38,969 shares of company stock valued at $10,904,774 over the last 90 days. 0.53% of the stock is owned by corporate insiders.

Eaton Stock Up 2.3 %

ETN traded up $7.20 during trading on Friday, reaching $324.30. The company had a trading volume of 2,305,692 shares, compared to its average volume of 2,383,996. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. Eaton Co. plc has a 12 month low of $162.04 and a 12 month high of $331.47. The business’s fifty day moving average price is $304.82 and its 200 day moving average price is $258.28. The company has a market cap of $129.56 billion, a P/E ratio of 40.42, a PEG ratio of 2.63 and a beta of 1.07.

Eaton (NYSE:ETN) last announced 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. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the previous year, the firm posted $2.06 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. Equities analysts anticipate that Eaton Co. plc will post 10.28 EPS for the current 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 given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s dividend payout ratio is presently 46.88%.

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.