635 Shares in Eaton Co. plc (NYSE:ETN) Acquired by GM Advisory Group LLC

GM Advisory Group LLC bought a new position in shares of Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 635 shares of the industrial products company’s stock, valued at approximately $211,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new stake in shares of Eaton in the fourth quarter valued at about $27,000. Noble Wealth Management PBC bought a new position in shares of Eaton in the fourth quarter valued at approximately $30,000. Groupama Asset Managment boosted its position in shares of Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 4,298 shares during the period. Horizon Bancorp Inc. IN raised its stake in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares in the last quarter. Finally, Morse Asset Management Inc purchased a new stake in Eaton in the third quarter valued at approximately $33,000. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

ETN opened at $277.71 on Tuesday. 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 firm has a market cap of $109.75 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 2.64 and a beta of 1.05. The stock’s 50-day moving average price is $325.70 and its 200 day moving average price is $332.62. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the company posted $2.55 EPS. As a group, sell-side analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is 43.79%.

Analysts Set New Price Targets

Several research firms have commented on ETN. Evercore ISI decreased their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada reiterated an “outperform” rating on shares of Eaton in a report on Thursday, February 13th. Citigroup dropped their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Bank of America boosted their target price on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Sanford C. Bernstein began coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target on the stock. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $364.65.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

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.