Scissortail Wealth Management LLC Acquires 15,713 Shares of Eaton Co. plc (NYSE:ETN)

Scissortail Wealth Management LLC raised its holdings in Eaton Co. plc (NYSE:ETN) by 4,049.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,101 shares of the industrial products company’s stock after acquiring an additional 15,713 shares during the period. Eaton comprises about 1.4% of Scissortail Wealth Management LLC’s investment portfolio, making the stock its 24th largest holding. Scissortail Wealth Management LLC’s holdings in Eaton were worth $5,343,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ETN. Siemens Fonds Invest GmbH increased its stake in Eaton by 439.8% during the 4th quarter. Siemens Fonds Invest GmbH now owns 28,504 shares of the industrial products company’s stock worth $9,543,000 after purchasing an additional 23,224 shares in the last quarter. Rafferty Asset Management LLC lifted its stake in Eaton by 9.5% in the fourth quarter. Rafferty Asset Management LLC now owns 37,587 shares of the industrial products company’s stock valued at $12,474,000 after buying an additional 3,253 shares in the last quarter. Polar Asset Management Partners Inc. boosted its holdings in shares of Eaton by 801.4% in the fourth quarter. Polar Asset Management Partners Inc. now owns 115,000 shares of the industrial products company’s stock valued at $38,165,000 after buying an additional 102,242 shares during the period. ProShare Advisors LLC increased its position in shares of Eaton by 11.2% during the fourth quarter. ProShare Advisors LLC now owns 62,317 shares of the industrial products company’s stock worth $20,681,000 after acquiring an additional 6,269 shares in the last quarter. Finally, Quadcap Wealth Management LLC raised its holdings in shares of Eaton by 2.3% during the fourth quarter. Quadcap Wealth Management LLC now owns 5,313 shares of the industrial products company’s stock worth $1,763,000 after acquiring an additional 118 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ETN has been the subject of a number of research analyst reports. BNP Paribas started coverage on shares of Eaton in a research note on Thursday. They issued an “outperform” rating and a $380.00 target price for the company. Jefferies Financial Group cut their price target on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. KeyCorp increased their price objective on Eaton from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Melius Research reissued a “hold” rating and issued a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Finally, Barclays reduced their price target on Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a research report on Friday, April 4th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus price target of $366.56.

Eaton Trading Up 0.8%

NYSE ETN opened at $329.40 on Friday. The company has a market cap of $128.89 billion, a PE ratio of 34.67, a PEG ratio of 2.64 and a beta of 1.14. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99. The stock has a 50 day moving average of $287.40 and a 200-day moving average of $319.71. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

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

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Monday, May 5th. Eaton’s payout ratio is currently 41.98%.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Craig Arnold sold 103,486 shares of the stock in a transaction on 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 completion of the sale, the insider now owns 490,208 shares in the company, valued at approximately $158,214,632. This trade represents a 17.43% 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 over the last 90 days. 0.30% of the stock is currently owned by insiders.

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.