Sunbeam Capital Management LLC Takes $110,000 Position in Eaton Co. plc (NYSE:ETN)

Sunbeam Capital Management LLC acquired a new stake in Eaton Co. plc (NYSE:ETN) in the 4th quarter, Holdings Channel.com reports. The fund acquired 331 shares of the industrial products company’s stock, valued at approximately $110,000.

Other large investors have also added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. increased its position in Eaton by 0.9% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after acquiring an additional 28 shares during the period. Lantz Financial LLC raised its position in Eaton by 4.8% during the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 30 shares during the last quarter. Norden Group LLC lifted its holdings in Eaton by 3.4% during the 4th quarter. Norden Group LLC now owns 978 shares of the industrial products company’s stock worth $325,000 after buying an additional 32 shares during the period. TFC Financial Management Inc. increased its stake in shares of Eaton by 4.7% in the fourth quarter. TFC Financial Management Inc. now owns 752 shares of the industrial products company’s stock valued at $250,000 after buying an additional 34 shares during the period. Finally, Nwam LLC raised its position in shares of Eaton by 0.6% during the fourth quarter. Nwam LLC now owns 5,314 shares of the industrial products company’s stock worth $1,764,000 after acquiring an additional 34 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ETN. JPMorgan Chase & Co. upped their target price on Eaton from $300.00 to $360.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Morgan Stanley reduced their price objective on shares of Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Wells Fargo & Company reissued an “overweight” rating and set a $355.00 target price on shares of Eaton in a research note on Monday, May 5th. KeyCorp increased their price target on Eaton from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Finally, BNP Paribas Exane assumed coverage on Eaton in a research note on Thursday, May 15th. They issued an “outperform” rating and a $380.00 price objective on the stock. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $367.83.

Eaton Stock Performance

Shares of ETN stock opened at $321.19 on Friday. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99. The firm has a market capitalization of $125.68 billion, a PE ratio of 33.81, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14. The firm has a fifty day simple moving average of $290.68 and a two-hundred day simple moving average of $319.32. 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 posted its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS 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 the consensus estimate of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.40 earnings per share. Analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced 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 was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.30%. Eaton’s payout ratio is 41.98%.

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 51,054 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 489,444 shares of the company’s stock, valued at approximately $149,490,880.92. This represents a 9.45% decrease in their position. The sale was disclosed in a document filed 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 that occurred 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 of the company’s stock, 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 worth $49,622,894. 0.30% of the stock is owned by corporate 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.