Rothschild Investment LLC Purchases 12,092 Shares of Eaton Co. plc (NYSE:ETN)

Rothschild Investment LLC boosted its position in Eaton Co. plc (NYSE:ETN) by 377.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,292 shares of the industrial products company’s stock after buying an additional 12,092 shares during the period. Rothschild Investment LLC’s holdings in Eaton were worth $4,157,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new position in Eaton during the 4th quarter valued at about $26,000. Flagship Wealth Advisors LLC acquired a new position in Eaton during the 4th quarter valued at about $27,000. Noble Wealth Management PBC acquired a new position in Eaton during the 4th quarter valued at about $30,000. Murphy & Mullick Capital Management Corp acquired a new position in Eaton during the 4th quarter valued at about $33,000. Finally, Vermillion Wealth Management Inc. acquired a new position in Eaton during the 4th quarter valued at about $33,000. 82.97% of the stock is owned by institutional investors.

Eaton Trading Down 1.4%

Eaton stock opened at $320.35 on Friday. The stock has a market cap of $125.35 billion, a P/E ratio of 33.72, a PEG ratio of 2.64 and a beta of 1.14. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The firm’s fifty day moving average price is $293.29 and its 200-day moving average price is $317.89. 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 (NYSE:ETN) last released its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.02. The firm had revenue of $6.38 billion for 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 business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.40 earnings per share. Equities research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.30%. Eaton’s dividend payout ratio is presently 41.98%.

Insider Activity at Eaton

In related news, insider Craig Arnold sold 103,486 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the transaction, the insider now owns 490,208 shares of the company’s stock, valued at $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Yelton sold 2,120 shares of the 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 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 owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ETN shares. KeyCorp lifted their price target on Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Wells Fargo & Company restated an “overweight” rating and issued a $355.00 target price on shares of Eaton in a research note on Monday, May 5th. BNP Paribas Exane started coverage on Eaton in a research note on Thursday, May 15th. They issued an “outperform” rating and a $380.00 target price on the stock. Evercore ISI boosted their target price on Eaton from $326.00 to $349.00 and gave the stock an “in-line” rating in a research note on Monday, May 19th. Finally, Citigroup boosted their target price on Eaton from $323.00 to $351.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Five investment 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 a consensus target price of $367.83.

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.