Eaton Co. plc (NYSE:ETN) Shares Acquired by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC lifted its position in shares of Eaton Co. plc (NYSE:ETN) by 43.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,501 shares of the industrial products company’s stock after buying an additional 4,979 shares during the period. Greenwood Capital Associates LLC’s holdings in Eaton were worth $4,485,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETN. Vanguard Group Inc. raised its holdings in Eaton by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company’s stock valued at $12,351,506,000 after buying an additional 99,291 shares during the period. FMR LLC lifted its stake 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 purchasing an additional 182,455 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Eaton by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company’s stock valued at $2,714,677,000 after buying an additional 129,071 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Eaton by 4.3% during the 4th quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company’s stock valued at $1,550,226,000 after buying an additional 192,482 shares during the period. Finally, Northern Trust Corp grew its position in Eaton by 8.8% in the fourth quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company’s stock valued at $1,518,207,000 after acquiring an additional 368,241 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In related news, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction dated 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 of the company’s stock, valued at approximately $149,490,880.92. The trade was a 9.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael Yelton sold 2,120 shares of the company’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 transaction, the insider now directly owns 3,382 shares in the company, 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. 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 Ratings Changes

Several research analysts recently commented on the company. Wells Fargo & Company reiterated an “overweight” rating and issued a $355.00 price target on shares of Eaton in a research note on Monday, May 5th. Wall Street Zen raised Eaton from a “hold” rating to a “buy” rating in a research report on Sunday, May 18th. BNP Paribas Exane assumed coverage on Eaton in a research note on Thursday, May 15th. They set an “outperform” rating and a $380.00 target price for the company. Barclays lifted their price target on shares of Eaton from $306.00 to $323.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, KeyCorp increased their price objective on shares of Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and an average target price of $368.78.

Eaton Stock Up 0.4%

Shares of NYSE ETN opened at $325.56 on Thursday. The business has a fifty day moving average of $301.79 and a two-hundred day moving average of $315.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99. The stock has a market cap of $127.39 billion, a PE ratio of 34.27, a PEG ratio of 2.64 and a beta of 1.16.

Eaton (NYSE:ETN) last announced its 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. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same period last year, the company posted $2.40 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts expect that Eaton Co. plc will post 12.02 earnings per share 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 dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Monday, May 5th. Eaton’s dividend payout ratio is currently 41.98%.

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.