Eaton Co. plc (NYSE:ETN) Shares Purchased by Delta Investment Management LLC

Delta Investment Management LLC grew its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.7% in the 4th quarter, Holdings Channel reports. The fund owned 4,103 shares of the industrial products company’s stock after acquiring an additional 67 shares during the period. Delta Investment Management LLC’s holdings in Eaton were worth $988,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ETN. Avior Wealth Management LLC grew its stake in shares of Eaton by 69.5% during the third quarter. Avior Wealth Management LLC now owns 222 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 91 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in Eaton by 12.7% in the third 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 in the last quarter. Meridian Wealth Management LLC grew its stake in Eaton by 17.2% in the third 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 in the last quarter. Strategic Blueprint LLC grew its stake in Eaton by 11.9% in the third quarter. Strategic Blueprint LLC now owns 2,890 shares of the industrial products company’s stock worth $616,000 after purchasing an additional 307 shares in the last quarter. Finally, Stewart & Patten Co. LLC grew its stake in Eaton by 1.8% in the third quarter. Stewart & Patten Co. LLC now owns 57,638 shares of the industrial products company’s stock worth $12,293,000 after purchasing an additional 1,009 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ETN shares. Evercore ISI lifted 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 target price on Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Wolfe Research reaffirmed an “underperform” rating and issued a $312.00 target price on shares of Eaton in a research report on Monday, April 8th. UBS Group increased their price objective on Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Berenberg Bank increased their price objective on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $295.60.

Insider Buying and Selling at Eaton

In other Eaton news, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the transaction, the insider now owns 630 shares in the company, valued at approximately $171,360. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the sale, the insider now directly owns 630 shares of the company’s stock, valued at approximately $171,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction on 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 of the company’s stock, valued at $8,116,427.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,969 shares of company stock worth $10,904,774. 0.53% of the stock is currently owned by insiders.

Eaton Price Performance

Eaton stock opened at $324.30 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. The company has a market capitalization of $129.56 billion, a PE ratio of 40.44, a price-to-earnings-growth ratio of 2.69 and a beta of 1.07. Eaton Co. plc has a one year low of $162.04 and a one year high of $331.47. The business has a 50 day simple moving average of $304.82 and a 200 day simple moving average of $258.60.

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

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be given 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 payout ratio is 46.88%.

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.