Eaton Co. plc (NYSE:ETN) Shares Bought by Neville Rodie & Shaw Inc.

Neville Rodie & Shaw Inc. increased its stake in Eaton Co. plc (NYSE:ETN) by 6.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,944 shares of the industrial products company’s stock after purchasing an additional 2,558 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Eaton were worth $11,130,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of Eaton by 1.4% during the fourth quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company’s stock valued at $1,109,000 after acquiring an additional 45 shares during the period. KBC Group NV boosted its stake in Eaton by 16.2% during the 4th quarter. KBC Group NV now owns 66,296 shares of the industrial products company’s stock valued at $22,002,000 after purchasing an additional 9,252 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Eaton by 7.1% during the 4th quarter. Pacer Advisors Inc. now owns 31,622 shares of the industrial products company’s stock valued at $10,494,000 after purchasing an additional 2,110 shares during the period. Foundations Investment Advisors LLC raised its stake in shares of Eaton by 105.6% in the 4th quarter. Foundations Investment Advisors LLC now owns 3,763 shares of the industrial products company’s stock worth $1,249,000 after buying an additional 1,933 shares in the last quarter. Finally, Revolve Wealth Partners LLC lifted its holdings in shares of Eaton by 17.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company’s stock valued at $303,000 after buying an additional 136 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Down 0.8%

Shares of NYSE:ETN opened at $325.41 on Thursday. The firm has a fifty day moving average of $292.46 and a two-hundred day moving average of $318.55. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 12-month low of $231.85 and a 12-month high of $379.99. The firm has a market capitalization of $127.33 billion, a P/E ratio of 34.25, a price-to-earnings-growth 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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.02. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter last year, the firm earned $2.40 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.28%. Eaton’s dividend payout ratio is currently 41.98%.

Analysts Set New Price Targets

Several brokerages have commented on ETN. 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 research report on Monday, May 19th. BNP Paribas Exane initiated coverage on shares of Eaton in a research note on Thursday, May 15th. They set an “outperform” rating and a $380.00 target price for the company. Citigroup raised their target price on shares of Eaton from $323.00 to $351.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $355.00 price target on shares of Eaton in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. increased their price objective on Eaton from $300.00 to $360.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $367.83.

Insider Activity at Eaton

In other news, insider Craig Arnold sold 51,054 shares of the 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 transaction, the insider now owns 489,444 shares in the company, valued at $149,490,880.92. This represents a 9.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider now directly owns 3,382 shares of the company’s stock, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is currently owned by corporate insiders.

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.