Mmbg Investment Advisors CO. Increases Stock Position in Eaton Co. plc (NYSE:ETN)

Mmbg Investment Advisors CO. raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,440 shares of the industrial products company’s stock after buying an additional 445 shares during the quarter. Mmbg Investment Advisors CO.’s holdings in Eaton were worth $4,128,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wetzel Investment Advisors Inc. grew its stake in Eaton by 0.9% during the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock worth $1,029,000 after buying an additional 28 shares during the last quarter. Westmount Partners LLC lifted its stake in shares of Eaton by 3.1% in the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 30 shares during the last quarter. Signal Advisors Wealth LLC increased its holdings in Eaton by 3.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after buying an additional 30 shares during the period. Lantz Financial LLC lifted its stake in shares of Eaton by 4.8% in the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 30 shares during the period. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its position in shares of Eaton by 2.0% during the 4th quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company’s stock worth $544,000 after purchasing an additional 32 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Performance

Shares of ETN stock opened at $310.01 on Monday. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The company’s 50-day simple moving average is $282.81 and its 200-day simple moving average is $319.96. The stock has a market capitalization of $121.31 billion, a price-to-earnings ratio of 32.63, a PEG ratio of 2.64 and a beta of 1.14.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.02. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.40 EPS. Equities analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.34%. The ex-dividend date is Monday, May 5th. Eaton’s payout ratio is 41.98%.

Wall Street Analyst Weigh In

ETN has been the topic of several recent analyst reports. StockNews.com cut shares of Eaton from a “buy” rating to a “hold” rating in a research report on Saturday. Morgan Stanley dropped their price target on shares of Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Royal Bank of Canada boosted their target price on shares of Eaton from $336.00 to $356.00 and gave the stock an “outperform” rating in a research note on Monday, May 5th. KeyCorp upped their price objective on shares of Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Finally, Evercore ISI decreased their target price on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $361.13.

Insider Transactions at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the transaction, the insider now directly owns 3,382 shares of the company’s stock, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Craig Arnold sold 51,054 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the completion of the transaction, the insider now directly owns 489,444 shares of the company’s stock, valued at approximately $149,490,880.92. This trade represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% 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.