Bank of New Hampshire Has $1.57 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Bank of New Hampshire boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 983.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,500 shares of the industrial products company’s stock after purchasing an additional 5,900 shares during the period. Bank of New Hampshire’s holdings in Eaton were worth $1,565,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Eaton by 0.5% in the third quarter. Vanguard Group Inc. now owns 36,336,041 shares of the industrial products company’s stock worth $7,749,751,000 after purchasing an additional 176,900 shares during the period. FMR LLC grew its stake in shares of Eaton by 36.0% in the 3rd quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after purchasing an additional 5,270,331 shares during the period. Northern Trust Corp grew its stake in shares of Eaton by 2.2% in the 3rd quarter. Northern Trust Corp now owns 5,009,435 shares of the industrial products company’s stock valued at $1,068,412,000 after purchasing an additional 109,775 shares during the period. Raymond James & Associates grew its stake in shares of Eaton by 3.8% in the 4th quarter. Raymond James & Associates now owns 3,739,725 shares of the industrial products company’s stock valued at $900,600,000 after purchasing an additional 138,465 shares during the period. Finally, Deutsche Bank AG grew its stake in shares of Eaton by 97.5% in the 3rd quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock valued at $396,767,000 after purchasing an additional 918,422 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Up 2.5 %

Shares of Eaton stock traded up $7.85 during trading hours on Friday, reaching $324.95. 1,119,505 shares of the company’s stock were exchanged, compared to its average volume of 1,941,382. The company has a 50 day moving average of $303.89 and a two-hundred day moving average of $257.51. Eaton Co. plc has a fifty-two week low of $162.04 and a fifty-two week high of $331.47. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The stock has a market cap of $129.82 billion, a P/E ratio of 39.54, a P/E/G ratio of 2.64 and a beta of 1.07.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The company had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the business posted $2.06 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts forecast that Eaton Co. plc will post 10.28 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 annualized dividend and a yield of 1.16%. Eaton’s dividend payout ratio (DPR) is currently 46.88%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ETN. 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. Berenberg Bank upped their price objective on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Wolfe Research reaffirmed an “underperform” rating and set a $312.00 price objective on shares of Eaton in a report on Monday, April 8th. Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $250.00 to $300.00 in a report on Tuesday, April 2nd. Finally, The Goldman Sachs Group upped their price objective on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, March 15th. One equities 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $295.60.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the sale, the insider now directly owns 29,712 shares in the company, valued at approximately $8,116,427.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the completion of the sale, the insider now directly owns 630 shares in the company, valued at $171,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s stock in a transaction that occurred on 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 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. In the last ninety days, insiders sold 38,969 shares of company stock worth $10,904,774. Insiders own 0.53% of the company’s stock.

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.