Lyell Wealth Management LP Buys Shares of 1,067 Eaton Co. plc (NYSE:ETN)

Lyell Wealth Management LP purchased a new stake in shares of Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,067 shares of the industrial products company’s stock, valued at approximately $257,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. DAVENPORT & Co LLC grew its stake in Eaton by 6.6% in the third quarter. DAVENPORT & Co LLC now owns 23,890 shares of the industrial products company’s stock valued at $5,096,000 after purchasing an additional 1,480 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of Eaton by 69.5% during the 3rd quarter. Avior Wealth Management LLC now owns 222 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 91 shares during the last quarter. GHP Investment Advisors Inc. lifted its position in shares of Eaton by 12.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 664 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 75 shares during the last quarter. Meridian Wealth Management LLC lifted its position in shares of Eaton by 17.2% during the 3rd quarter. Meridian Wealth Management LLC now owns 1,379 shares of the industrial products company’s stock worth $294,000 after purchasing an additional 202 shares during the last quarter. Finally, Private Trust Co. NA lifted its position in shares of Eaton by 1.2% during the 3rd quarter. Private Trust Co. NA now owns 7,240 shares of the industrial products company’s stock worth $1,544,000 after purchasing an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In other news, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the transaction, the insider now owns 5,514 shares in the company, valued at approximately $1,593,380.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the transaction, the insider now owns 5,514 shares in the company, valued at approximately $1,593,380.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the transaction, the insider now owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The disclosure for this sale can be found here. Insiders have sold 38,969 shares of company stock valued at $10,904,774 in the last 90 days. 0.53% of the stock is currently owned by company insiders.

Eaton Trading Down 0.5 %

Eaton stock traded down $1.70 during mid-day trading on Thursday, hitting $317.09. 2,009,138 shares of the company’s stock were exchanged, compared to its average volume of 1,943,776. The firm has a market capitalization of $126.68 billion, a P/E ratio of 39.77, a PEG ratio of 2.59 and a beta of 1.07. Eaton Co. plc has a fifty-two week low of $161.12 and a fifty-two week high of $331.47. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The company’s 50 day simple moving average is $303.06 and its 200-day simple moving average is $257.09.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.08. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The firm had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter last year, the business posted $2.06 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts anticipate that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s dividend payout ratio is 46.88%.

Wall Street Analyst Weigh In

ETN has been the subject of several research analyst reports. Bank of America boosted their price objective on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Evercore ISI upped their price target on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Citigroup upped their price target on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $286.00 to $371.00 in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Eaton has an average rating of “Moderate Buy” and an average target price of $295.60.

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.