Mmbg Investment Advisors CO. Acquires 445 Shares of Eaton Co. plc (NYSE:ETN)

Mmbg Investment Advisors CO. increased its holdings in Eaton Co. plc (NYSE:ETN) by 3.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 12,440 shares of the industrial products company’s stock after buying an additional 445 shares during the period. Mmbg Investment Advisors CO.’s holdings in Eaton were worth $4,128,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Flagship Wealth Advisors LLC bought a new stake in Eaton in the 4th quarter worth $27,000. Noble Wealth Management PBC purchased a new stake in shares of Eaton in the fourth quarter valued at approximately $30,000. Horizon Bancorp Inc. IN raised its position in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in Eaton during the 4th quarter worth $33,000. Finally, Activest Wealth Management increased its position in Eaton by 621.4% during the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after buying an additional 87 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Eaton Price Performance

NYSE ETN opened at $310.01 on Monday. The business’s fifty day moving average price is $282.81 and its 200-day moving average price is $319.96. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. The stock has a market capitalization of $121.31 billion, a price-to-earnings ratio of 32.63, a PEG ratio of 2.64 and a beta of 1.14.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.70 by $0.02. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the prior year, the business earned $2.40 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.34%. Eaton’s dividend payout ratio (DPR) is 41.98%.

Wall Street Analyst Weigh In

Several brokerages have commented on ETN. Melius Research restated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Evercore ISI decreased their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada raised their price target on shares of Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a report on Monday, May 5th. Wells Fargo & Company reiterated an “overweight” rating and set a $355.00 target price on shares of Eaton in a report on Monday, May 5th. Finally, Morgan Stanley dropped their price objective on shares of Eaton from $385.00 to $375.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $361.13.

Insider Buying and Selling at Eaton

In other Eaton news, insider Craig Arnold sold 51,054 shares of the company’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the completion of the sale, the insider now owns 489,444 shares in the company, valued at approximately $149,490,880.92. The trade was a 9.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the transaction, the insider now owns 3,382 shares of the company’s stock, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

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.