Strategic Advisors LLC Has $4.88 Million Position in Eaton Co. plc (NYSE:ETN)

Strategic Advisors LLC increased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 95.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 17,947 shares of the industrial products company’s stock after purchasing an additional 8,749 shares during the period. Eaton makes up approximately 0.9% of Strategic Advisors LLC’s holdings, making the stock its 25th largest position. Strategic Advisors LLC’s holdings in Eaton were worth $4,879,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new position in shares of Eaton during the 4th quarter worth about $26,000. Flagship Wealth Advisors LLC bought a new position in Eaton during the fourth quarter valued at about $27,000. Noble Wealth Management PBC acquired a new position in Eaton in the 4th quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Eaton in the 4th quarter worth approximately $33,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Eaton during the 4th quarter worth approximately $33,000. Institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Shares of ETN stock opened at $337.95 on Tuesday. Eaton Co. plc has a 52 week low of $231.85 and a 52 week high of $379.99. The stock has a market capitalization of $132.24 billion, a PE ratio of 35.57, a PEG ratio of 2.64 and a beta of 1.16. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock’s fifty day moving average is $306.54 and its 200-day moving average is $313.96.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.02. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the prior year, the firm earned $2.40 EPS. The company’s revenue was up 7.3% on a year-over-year basis. Equities research analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Monday, May 5th. Eaton’s dividend payout ratio (DPR) is presently 41.98%.

Wall Street Analysts Forecast Growth

ETN has been the subject of several research reports. JPMorgan Chase & Co. raised their target price on Eaton from $300.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Barclays raised their price objective on shares of Eaton from $306.00 to $323.00 and gave the stock an “equal weight” rating in a report on Monday, June 9th. KeyCorp upped their target price on shares of Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Royal Bank of Canada increased their price target on shares of Eaton from $336.00 to $356.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. Finally, BNP Paribas Exane began coverage on Eaton in a report on Thursday, May 15th. They set an “outperform” rating and a $380.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $368.78.

Insiders Place Their Bets

In other news, insider Craig Arnold sold 51,054 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the completion of the sale, the insider now owns 489,444 shares in the company, valued at $149,490,880.92. The trade was a 9.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael Yelton sold 2,120 shares of the firm’s stock in a transaction dated 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 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. In the last quarter, insiders have sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is currently owned by corporate insiders.

About Eaton

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.