Quadcap Wealth Management LLC Buys 118 Shares of Eaton Co. plc (NYSE:ETN)

Quadcap Wealth Management LLC lifted its stake in Eaton Co. plc (NYSE:ETN) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,313 shares of the industrial products company’s stock after purchasing an additional 118 shares during the quarter. Quadcap Wealth Management LLC’s holdings in Eaton were worth $1,763,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ETN. Flagship Wealth Advisors LLC bought a new position in Eaton in the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new position in Eaton in the 4th quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp purchased a new stake in Eaton during the 4th quarter valued at $33,000. Activest Wealth Management raised its stake in Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after buying an additional 87 shares during the last quarter. Finally, Knuff & Co LLC purchased a new stake in Eaton during the 4th quarter valued at $37,000. 82.97% of the stock is owned by institutional investors.

Eaton Stock Down 0.4%

Shares of NYSE:ETN opened at $329.39 on Thursday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99. The company has a 50-day moving average price of $285.45 and a 200 day moving average price of $319.94. The company has a market cap of $128.89 billion, a price-to-earnings ratio of 34.67, 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 EPS for the quarter, beating analysts’ consensus estimates of $2.70 by $0.02. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter last year, the firm earned $2.40 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities research analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Monday, May 5th. Eaton’s dividend payout ratio (DPR) is currently 41.98%.

Insider Transactions at Eaton

In related news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction that occurred 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 $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the transaction, the insider now directly owns 490,208 shares in the company, valued at approximately $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ETN shares. Barclays decreased their target price on shares of Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a research note on Friday, April 4th. Morgan Stanley reduced their price objective on Eaton from $385.00 to $375.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Jefferies Financial Group reduced their price objective on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Citigroup upped their price objective on Eaton from $323.00 to $351.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Finally, StockNews.com lowered Eaton from a “buy” rating to a “hold” rating in a research note on Saturday, May 10th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $361.13.

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.