Kilter Group LLC Makes New $220,000 Investment in Eaton Co. plc (NYSE:ETN)

Kilter Group LLC purchased a new position in Eaton Co. plc (NYSE:ETN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 662 shares of the industrial products company’s stock, valued at approximately $220,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Eaton by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company’s stock worth $12,351,506,000 after acquiring an additional 99,291 shares in the last quarter. FMR LLC increased its position in shares of Eaton by 1.2% during the fourth quarter. FMR LLC now owns 15,222,248 shares of the industrial products company’s stock worth $5,051,807,000 after acquiring an additional 182,455 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Eaton by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company’s stock worth $2,714,677,000 after acquiring an additional 129,071 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of Eaton by 4.3% during the fourth quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company’s stock worth $1,550,226,000 after acquiring an additional 192,482 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Eaton by 8.8% during the fourth quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company’s stock worth $1,518,207,000 after acquiring an additional 368,241 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

NYSE ETN opened at $321.19 on Tuesday. The company’s 50 day moving average is $291.21 and its 200-day moving average is $318.44. Eaton Co. plc has a 12-month low of $231.85 and a 12-month high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The firm has a market cap of $125.68 billion, a P/E ratio of 33.81, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14.

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

Eaton Dividend Announcement

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

Insider Activity at Eaton

In related news, insider Craig Arnold sold 51,054 shares of the business’s stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Yelton sold 2,120 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the transaction, the insider now directly owns 3,382 shares of the company’s stock, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 156,660 shares of company stock valued at $49,622,894. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. BNP Paribas assumed coverage on shares of Eaton in a report on Thursday, May 15th. They set an “outperform” rating and a $380.00 price target on the stock. Melius Research restated a “hold” rating and set a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Jefferies Financial Group cut their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Evercore ISI boosted their price target on shares of Eaton from $326.00 to $349.00 and gave the stock an “in-line” rating in a report on Monday, May 19th. Finally, BNP Paribas Exane assumed coverage on shares of Eaton in a report on Thursday, May 15th. They set an “outperform” rating and a $380.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $367.83.

About Eaton

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.