Park Avenue Securities LLC Has $3.82 Million Position in Eaton Co. plc (NYSE:ETN)

Park Avenue Securities LLC lifted its holdings in Eaton Co. plc (NYSE:ETN) by 3.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,047 shares of the industrial products company’s stock after purchasing an additional 527 shares during the period. Park Avenue Securities LLC’s holdings in Eaton were worth $3,818,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Eaton during the fourth quarter worth approximately $1,495,582,000. GAMMA Investing LLC increased its position in Eaton by 27,281.9% during the first quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company’s stock worth $976,772,000 after acquiring an additional 3,580,198 shares during the period. Capital International Investors bought a new position in Eaton during the fourth quarter worth $523,541,000. Proficio Capital Partners LLC raised its stake in Eaton by 42,255.3% during the 4th quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock valued at $243,036,000 after purchasing an additional 730,594 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC bought a new stake in Eaton in the 4th quarter valued at $231,552,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, insider Craig Arnold sold 103,486 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the transaction, the insider now owns 490,208 shares of the company’s stock, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of Eaton 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 sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock valued at $49,622,894 in the last 90 days. 0.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

ETN has been the topic of several research reports. Barclays boosted their price objective on shares of Eaton from $306.00 to $323.00 and gave the stock an “equal weight” rating in a report on Monday. Wall Street Zen raised Eaton from a “hold” rating to a “buy” rating in a report on Sunday, May 18th. BNP Paribas Exane started coverage on Eaton in a research report on Thursday, May 15th. They issued an “outperform” rating and a $380.00 price objective for the company. JPMorgan Chase & Co. boosted 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. Finally, KeyCorp upped their target price on Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $368.78.

Eaton Trading Down 1.8%

Shares of ETN stock opened at $325.61 on Tuesday. The company has a market capitalization of $127.41 billion, a P/E ratio of 34.27, a P/E/G ratio of 2.64 and a beta of 1.16. 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 50-day moving average price of $298.94 and a 200 day moving average price of $315.59.

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

Eaton Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.28%. Eaton’s dividend payout ratio (DPR) is 41.98%.

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.