Strategic Advisors LLC Has $4.88 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Strategic Advisors LLC increased its stake in shares of Eaton Co. plc (NYSE:ETN) by 95.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,947 shares of the industrial products company’s stock after purchasing an additional 8,749 shares during the period. Eaton makes up approximately 0.9% of Strategic Advisors LLC’s investment portfolio, making the stock its 25th largest holding. Strategic Advisors LLC’s holdings in Eaton were worth $4,879,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bearing Point Capital LLC bought a new stake in shares of Eaton in the 4th quarter valued at about $2,713,000. Kennebec Savings Bank increased its stake in Eaton by 5.4% in the first quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company’s stock valued at $738,000 after purchasing an additional 139 shares in the last quarter. American National Bank & Trust raised its holdings in Eaton by 5.4% in the first quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company’s stock worth $855,000 after purchasing an additional 162 shares during the period. Castle Rock Wealth Management LLC boosted its position in shares of Eaton by 7.0% during the fourth quarter. Castle Rock Wealth Management LLC now owns 8,330 shares of the industrial products company’s stock worth $2,575,000 after purchasing an additional 543 shares in the last quarter. Finally, CogentBlue Wealth Advisors LLC acquired a new position in shares of Eaton in the 4th quarter valued at $670,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Up 4.4%

Shares of NYSE:ETN opened at $337.95 on Tuesday. The company’s 50-day moving average price is $306.54 and its two-hundred day moving average price is $313.96. 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 current ratio of 1.50 and a quick ratio of 0.96. The stock has a market capitalization of $132.24 billion, a PE ratio of 35.57, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16.

Eaton (NYSE:ETN) last released its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.02. The business had revenue of $6.38 billion for 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%. Eaton’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.40 earnings per share. On average, equities analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.23%. Eaton’s dividend payout ratio is presently 41.98%.

Insider Buying and Selling

In other news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction dated Tuesday, May 6th. The shares were 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 owns 3,382 shares of the company’s stock, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Craig Arnold sold 103,486 shares of the company’s stock in a transaction dated 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 completion of the sale, 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 worth $49,622,894. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on ETN shares. Jefferies Financial Group reduced their target price on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. KeyCorp lifted their price objective on Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Monday, May 5th. JPMorgan Chase & Co. increased their target price on Eaton from $300.00 to $360.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Citigroup raised their target price on shares of Eaton from $323.00 to $351.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Finally, Royal Bank of Canada upped their price target on shares of Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $368.78.

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.