Cornell Pochily Investment Advisors Inc. Acquires Shares of 2,505 Eaton Co. plc (NYSE:ETN)

Cornell Pochily Investment Advisors Inc. acquired a new stake in shares of Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,505 shares of the industrial products company’s stock, valued at approximately $603,000.

Other large investors have also recently modified their holdings of the company. PCA Investment Advisory Services Inc. purchased a new position in shares of Eaton in the 2nd quarter worth about $27,000. Coppell Advisory Solutions Corp. purchased a new position in Eaton in the 4th quarter worth about $30,000. Global Trust Asset Management LLC bought a new stake in shares of Eaton during the 3rd quarter valued at about $32,000. Valued Wealth Advisors LLC bought a new stake in shares of Eaton during the 4th quarter valued at about $35,000. Finally, Cornerstone Planning Group LLC bought a new stake in shares of Eaton during the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ETN. Mizuho upped their price objective on Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Wells Fargo & Company increased their price target on Eaton from $220.00 to $257.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 19th. Berenberg Bank increased their price target on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Citigroup increased their price target on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, The Goldman Sachs Group increased their price target on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $274.20.

Insider Activity

In related news, insider Peter Denk sold 1,731 shares of Eaton stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the transaction, the insider now owns 5,514 shares in the company, valued at $1,593,380.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the completion of the sale, the insider now owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the sale, the insider now directly owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. Insiders sold a total of 38,969 shares of company stock valued at $10,904,774 over the last quarter. Company insiders own 0.53% of the company’s stock.

Eaton Stock Down 0.3 %

ETN traded down $0.91 on Thursday, hitting $313.49. 301,252 shares of the company were exchanged, compared to its average volume of 1,750,967. Eaton Co. plc has a twelve month low of $155.38 and a twelve month high of $317.02. The company has a market cap of $125.24 billion, a price-to-earnings ratio of 38.97, a price-to-earnings-growth ratio of 2.59 and a beta of 1.07. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average price of $278.80 and a two-hundred day moving average price of $242.64.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The company had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the firm earned $2.06 EPS. On average, equities analysts predict that Eaton Co. plc will post 10.25 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 11th will be given a $0.94 dividend. The ex-dividend date is Friday, March 8th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.20%. This is an increase from Eaton’s previous quarterly dividend of $0.86. Eaton’s payout ratio is currently 46.88%.

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.