490 Shares in Eaton Co. plc (NYSE:ETN) Purchased by MeadowBrook Investment Advisors LLC

MeadowBrook Investment Advisors LLC 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 & Exchange Commission. The institutional investor purchased 490 shares of the industrial products company’s stock, valued at approximately $118,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC grew its holdings in shares of Eaton by 36.0% in the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock worth $4,248,960,000 after acquiring an additional 5,270,331 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Eaton during the third quarter valued at about $340,500,000. Deutsche Bank AG grew its holdings in Eaton by 97.5% during the third 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. Artisan Partners Limited Partnership bought a new position in shares of Eaton in the third quarter worth about $67,305,000. Finally, International Assets Investment Management LLC raised its stake in Eaton by 21,664.8% during the 4th quarter. International Assets Investment Management LLC now owns 316,242 shares of the industrial products company’s stock valued at $76,157,000 after purchasing an additional 314,789 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other news, insider Olivier Leonetti sold 4,461 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the completion of the transaction, the insider now directly owns 630 shares of the company’s stock, valued at approximately $171,360. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Peter Denk sold 1,731 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total transaction of $500,207.07. Following the completion of the transaction, the insider now directly owns 5,514 shares in the company, valued at approximately $1,593,380.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Olivier Leonetti sold 4,461 shares of the 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 transaction, the insider now owns 630 shares of the company’s stock, valued at $171,360. The disclosure for this sale can be found here. Insiders sold a total of 38,969 shares of company stock valued at $10,904,774 in the last three months. 0.53% of the stock is currently owned by company insiders.

Eaton Stock Up 2.2 %

Shares of ETN stock traded up $6.90 during trading hours on Monday, reaching $327.40. 1,296,563 shares of the company’s stock were exchanged, compared to its average volume of 2,028,111. Eaton Co. plc has a 1 year low of $165.24 and a 1 year high of $333.05. The stock has a market cap of $130.89 billion, a PE ratio of 38.65, a PEG ratio of 2.54 and a beta of 1.06. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The stock’s fifty day moving average price is $309.54 and its two-hundred day moving average price is $263.61.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the previous year, the company posted $1.88 earnings per share. Eaton’s revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts predict that Eaton Co. plc will post 10.45 EPS for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s payout ratio is 44.39%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ETN. Argus increased their price objective on shares of Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Berenberg Bank increased their price objective on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Evercore ISI increased their target price on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Finally, Wolfe Research reiterated an “underperform” rating and set a $312.00 target price on shares of Eaton in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $314.27.

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.