St. Clair Advisors LLC Purchases New Stake in Eaton Co. plc (NYSE:ETN)

St. Clair Advisors LLC purchased a new stake in shares of Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 13,784 shares of the industrial products company’s stock, valued at approximately $4,574,000. Eaton accounts for about 1.3% of St. Clair Advisors LLC’s holdings, making the stock its 11th largest position.

Other large investors have also recently bought and sold shares of the company. Flagship Wealth Advisors LLC acquired a new position in Eaton in the 4th quarter worth about $27,000. Noble Wealth Management PBC acquired a new position in Eaton in the 4th quarter worth about $30,000. Murphy & Mullick Capital Management Corp acquired a new position in Eaton in the 4th quarter worth about $33,000. Activest Wealth Management increased its position in Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 87 shares during the last quarter. Finally, Knuff & Co LLC acquired a new position in Eaton in the 4th quarter worth about $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the transaction, the insider now directly owns 3,382 shares of the company’s stock, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Craig Arnold sold 103,486 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the transaction, the insider now directly owns 490,208 shares of the company’s stock, 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. In the last ninety days, insiders sold 156,660 shares of company stock valued at $49,622,894. Corporate insiders own 0.30% of the company’s stock.

Eaton Price Performance

Shares of ETN stock opened at $329.40 on Monday. The stock has a 50 day moving average of $287.40 and a two-hundred day moving average of $319.47. 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 market capitalization of $128.89 billion, a P/E ratio of 34.67, a P/E/G ratio of 2.64 and a beta of 1.14.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.02. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The company 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 company earned $2.40 EPS. The company’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a $1.04 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.26%. Eaton’s payout ratio is presently 41.98%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley dropped their target price on Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. JPMorgan Chase & Co. upped their price target on Eaton from $300.00 to $360.00 and gave the stock an “overweight” rating in a research note on Friday. BNP Paribas Exane began coverage on Eaton in a research note on Thursday. They set an “outperform” rating and a $380.00 price target for the company. Barclays decreased their price target on Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a research note on Friday, April 4th. Finally, Jefferies Financial Group decreased their price target on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $366.56.

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.