GDS Wealth Management Buys 299 Shares of Eaton Co. plc (NYSE:ETN)

GDS Wealth Management increased its position in Eaton Co. plc (NYSE:ETN) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,729 shares of the industrial products company’s stock after buying an additional 299 shares during the period. GDS Wealth Management’s holdings in Eaton were worth $1,380,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ETN. Ritholtz Wealth Management lifted its position in Eaton by 5.1% in the 4th quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock valued at $1,379,000 after acquiring an additional 277 shares in the last quarter. Pacer Advisors Inc. raised its position in Eaton by 30.5% in the 4th quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock valued at $8,205,000 after buying an additional 7,964 shares during the last quarter. Chicago Capital LLC bought a new position in Eaton during the 4th quarter valued at $2,958,000. Spire Wealth Management boosted its holdings in Eaton by 66.0% during the 4th quarter. Spire Wealth Management now owns 14,914 shares of the industrial products company’s stock worth $3,648,000 after acquiring an additional 5,932 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in shares of Eaton in the 3rd quarter worth $479,000. 82.97% of the stock is owned by institutional investors.

Eaton Stock Performance

Shares of NYSE:ETN traded up $3.00 during trading on Thursday, hitting $333.40. 1,487,142 shares of the company were exchanged, compared to its average volume of 2,012,587. The company has a market cap of $133.29 billion, a PE ratio of 39.35, a P/E/G ratio of 2.54 and a beta of 1.06. Eaton Co. plc has a 52-week low of $165.24 and a 52-week high of $333.45. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05. The stock has a 50 day moving average of $311.28 and a 200 day moving average of $265.01.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.12. The firm had revenue of $5.94 billion for 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 company’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.88 earnings per share. As a group, equities research analysts predict that Eaton Co. plc will post 10.45 EPS for the current year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a $0.94 dividend. The ex-dividend date is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.13%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Insider Activity at Eaton

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the sale, the insider now owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction 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 transaction, the insider now owns 630 shares in the company, valued at approximately $171,360. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,635 shares of company stock valued at $6,311,392. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $286.00 to $371.00 in a research report on Friday, April 5th. Argus upped their price objective on Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Finally, Evercore ISI increased their price target on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

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.