Syon Capital LLC Acquires 1,054 Shares of Eaton Co. plc (NYSE:ETN)

Syon Capital LLC lifted its holdings in Eaton Co. plc (NYSE:ETN) by 23.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,611 shares of the industrial products company’s stock after acquiring an additional 1,054 shares during the period. Syon Capital LLC’s holdings in Eaton were worth $1,351,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Ritholtz Wealth Management increased its position in Eaton by 5.1% in the 4th quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock valued at $1,379,000 after buying an additional 277 shares in the last quarter. Pacer Advisors Inc. increased its position in Eaton by 30.5% in the 4th quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock valued at $8,205,000 after buying an additional 7,964 shares in the last quarter. Chicago Capital LLC bought a new stake in Eaton during the 4th quarter worth approximately $2,958,000. Neo Ivy Capital Management bought a new stake in Eaton during the 3rd quarter worth approximately $479,000. Finally, Patriot Financial Group Insurance Agency LLC increased its holdings in Eaton by 13.6% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,458 shares of the industrial products company’s stock worth $351,000 after purchasing an additional 174 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Transactions at Eaton

In other news, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the sale, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the sale, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the completion of the sale, the insider now owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,969 shares of company stock worth $10,904,774. Company insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ETN. Wolfe Research reissued an “underperform” rating and set a $312.00 price objective on shares of Eaton in a report on Monday, April 8th. UBS Group upped their price objective on Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Mizuho upped their price objective on Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Evercore ISI boosted their target price on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Finally, Bank of America upped their price target on shares of Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $295.60.

Eaton Trading Down 0.5 %

NYSE ETN traded down $1.69 during trading on Thursday, hitting $317.10. 2,416,334 shares of the company’s stock traded hands, compared to its average volume of 1,952,195. The stock has a fifty day moving average of $303.06 and a two-hundred day moving average of $257.09. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. Eaton Co. plc has a 12-month low of $161.12 and a 12-month high of $331.47. The firm has a market cap of $126.68 billion, a P/E ratio of 39.77, a PEG ratio of 2.59 and a beta of 1.07.

Eaton (NYSE:ETN) last posted 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. The business had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.06 earnings per share. As a group, sell-side analysts expect that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Dividend Announcement

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

About Eaton

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.