Sculptor Capital LP Buys 2,000 Shares of Eaton Co. plc (NYSE:ETN)

Sculptor Capital LP increased its stake in Eaton Co. plc (NYSE:ETN) by 11.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,000 shares of the industrial products company’s stock after buying an additional 2,000 shares during the quarter. Sculptor Capital LP’s holdings in Eaton were worth $6,637,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in Eaton during the 4th quarter valued at about $1,495,582,000. Capital International Investors purchased a new position in shares of Eaton during the fourth quarter valued at approximately $523,541,000. Proficio Capital Partners LLC boosted its position in shares of Eaton by 42,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock valued at $243,036,000 after buying an additional 730,594 shares during the period. Leigh Baldwin & CO. LLC purchased a new stake in shares of Eaton in the fourth quarter worth approximately $231,552,000. Finally, Janus Henderson Group PLC lifted its stake in shares of Eaton by 24.3% during the 4th quarter. Janus Henderson Group PLC now owns 3,007,570 shares of the industrial products company’s stock worth $998,144,000 after acquiring an additional 588,370 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Michael Yelton sold 2,120 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 3,382 shares in the company, valued at $1,004,014.34. The trade was a 38.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Craig Arnold sold 51,054 shares of the 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 owns 489,444 shares of the company’s stock, valued at approximately $149,490,880.92. This trade represents a 9.45% 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 90 days. 0.30% of the stock is owned by corporate insiders.

Eaton Stock Up 0.8%

Shares of NYSE ETN opened at $329.40 on Friday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The stock has a market capitalization 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. The stock’s fifty day simple moving average is $287.40 and its two-hundred day simple moving average is $319.71. Eaton Co. plc has a 12-month low of $231.85 and a 12-month high of $379.99.

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

Eaton Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have commented on ETN. Evercore ISI cut their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $355.00 price target on shares of Eaton in a research note on Monday, May 5th. Morgan Stanley decreased their price objective on shares of Eaton from $385.00 to $375.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research report on Tuesday, January 28th. Finally, Melius Research reaffirmed a “hold” rating and set a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Eaton has an average rating of “Moderate Buy” and an average target price of $366.56.

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.