Pinnacle Wealth Planning Services Inc. Has $1 Million Stake in Eaton Co. plc (NYSE:ETN)

Pinnacle Wealth Planning Services Inc. reduced its holdings in Eaton Co. plc (NYSE:ETN) by 10.6% during the 4th quarter, HoldingsChannel reports. The firm owned 3,021 shares of the industrial products company’s stock after selling 360 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Eaton were worth $1,003,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Capital A Wealth Management LLC bought a new stake in Eaton during the 4th quarter valued at approximately $26,000. LM Advisors LLC bought a new position in Eaton in the 4th quarter worth approximately $880,000. Virtue Capital Management LLC lifted its holdings in shares of Eaton by 15.4% during the fourth quarter. Virtue Capital Management LLC now owns 1,256 shares of the industrial products company’s stock worth $417,000 after buying an additional 168 shares during the last quarter. Sculati Wealth Management LLC boosted its position in shares of Eaton by 21.3% in the fourth quarter. Sculati Wealth Management LLC now owns 2,275 shares of the industrial products company’s stock valued at $755,000 after acquiring an additional 400 shares during the period. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Eaton in the fourth quarter worth $881,000. 82.97% of the stock is currently owned by institutional investors.

Insider Activity at Eaton

In other Eaton news, insider Craig Arnold sold 51,054 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $305.43, for a total value of $15,593,423.22. Following the transaction, the insider now owns 489,444 shares of the company’s stock, valued at approximately $149,490,880.92. The trade was a 9.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the sale, the insider now owns 3,382 shares of the company’s stock, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock valued at $49,622,894 in the last ninety days. Insiders own 0.30% of the company’s stock.

Eaton Trading Up 0.0%

Shares of ETN opened at $321.19 on Monday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The stock has a market cap of $125.68 billion, a PE ratio of 33.81, a PEG ratio of 2.64 and a beta of 1.14. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99. The stock has a 50 day simple moving average of $290.68 and a 200-day simple moving average of $318.75.

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

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Monday, May 5th. Eaton’s dividend payout ratio (DPR) is currently 41.98%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ETN shares. Royal Bank of Canada upped their target price on shares of Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a research note on Monday, May 5th. BNP Paribas Exane began coverage on shares of Eaton in a report on Thursday, May 15th. They set an “outperform” rating and a $380.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on shares of Eaton from $300.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. BNP Paribas started coverage on Eaton in a research report on Thursday, May 15th. They set an “outperform” rating and a $380.00 target price on the stock. Finally, KeyCorp upped their price target on Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $367.83.

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.