Stonebrook Private Inc. Has $6.04 Million Stake in Eaton Co. plc (NYSE:ETN)

Stonebrook Private Inc. trimmed its stake in shares of Eaton Co. plc (NYSE:ETN) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,208 shares of the industrial products company’s stock after selling 860 shares during the period. Eaton comprises about 1.6% of Stonebrook Private Inc.’s portfolio, making the stock its 17th largest position. Stonebrook Private Inc.’s holdings in Eaton were worth $6,043,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton during the fourth quarter worth $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton during the fourth quarter worth $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in Eaton in the 4th quarter valued at $33,000. Activest Wealth Management increased its stake in Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after buying an additional 87 shares during the last quarter. Finally, Knuff & Co LLC acquired a new stake in Eaton in the 4th quarter valued at $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on ETN. BNP Paribas began coverage on shares of Eaton in a research note on Thursday. They issued an “outperform” rating and a $380.00 price target on the stock. Melius Research reiterated a “hold” rating and issued a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Royal Bank of Canada lifted their price target on shares of Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a research note on Monday, May 5th. Barclays lowered their price target on shares of Eaton from $315.00 to $306.00 and set an “equal weight” rating on the stock in a research note on Friday, April 4th. Finally, Evercore ISI lowered their price objective 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. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $366.56.

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 51,054 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total value of $15,593,423.22. Following the completion of the transaction, the insider now directly owns 489,444 shares in the company, valued at approximately $149,490,880.92. This represents a 9.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Yelton sold 2,120 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 3,382 shares of the company’s stock, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock worth $49,622,894 in the last three months. 0.30% of the stock is owned by corporate insiders.

Eaton Stock Performance

Shares of Eaton stock opened at $329.40 on Friday. The company has a 50 day moving average of $287.40 and a 200-day moving average of $319.55. The company has a market cap of $128.89 billion, a PE ratio of 34.67, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. 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 released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.70 by $0.02. The business 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 firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.40 EPS. As a group, equities research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be given 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 is Monday, May 5th. Eaton’s dividend payout ratio is 41.98%.

Eaton Company 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.