SlateStone Wealth LLC Buys 155 Shares of Eaton Co. plc (NYSE:ETN)

SlateStone Wealth LLC boosted its stake in Eaton Co. plc (NYSE:ETN) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,626 shares of the industrial products company’s stock after acquiring an additional 155 shares during the period. SlateStone Wealth LLC’s holdings in Eaton were worth $1,596,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Marks Group Wealth Management Inc bought a new position in shares of Eaton during the 4th quarter worth approximately $7,443,000. Illinois Municipal Retirement Fund raised its position in shares of Eaton by 1.2% during the fourth quarter. Illinois Municipal Retirement Fund now owns 49,947 shares of the industrial products company’s stock worth $12,028,000 after purchasing an additional 579 shares during the period. RWA Wealth Partners LLC raised its position in shares of Eaton by 34.9% during the fourth quarter. RWA Wealth Partners LLC now owns 13,110 shares of the industrial products company’s stock worth $3,157,000 after purchasing an additional 3,393 shares during the period. Sage Mountain Advisors LLC raised its position in shares of Eaton by 3.4% during the fourth quarter. Sage Mountain Advisors LLC now owns 3,239 shares of the industrial products company’s stock worth $780,000 after purchasing an additional 106 shares during the period. Finally, Monument Capital Management raised its position in shares of Eaton by 1.9% during the fourth quarter. Monument Capital Management now owns 2,415 shares of the industrial products company’s stock worth $582,000 after purchasing an additional 44 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the transaction, the insider now owns 630 shares in the company, valued at $171,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the transaction, the insider now owns 630 shares in the company, valued at $171,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the transaction, the insider now owns 69,472 shares in the company, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. Insiders have sold a total of 38,969 shares of company stock worth $10,904,774 in the last 90 days. 0.33% of the stock is owned by company insiders.

Eaton Price Performance

Shares of NYSE ETN traded up $4.99 during mid-day trading on Tuesday, reaching $313.08. 1,729,695 shares of the company were exchanged, compared to its average volume of 1,911,916. The stock has a market capitalization of $125.08 billion, a PE ratio of 38.43, a PEG ratio of 2.51 and a beta of 1.07. The company’s 50 day moving average price is $301.39 and its 200 day moving average price is $255.94. Eaton Co. plc has a 52 week low of $161.12 and a 52 week high of $331.47. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The company had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.06 EPS. Sell-side analysts forecast that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.20%. Eaton’s payout ratio is presently 46.88%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ETN. Wolfe Research reaffirmed an “underperform” rating and set a $312.00 target price on shares of Eaton in a research report on Monday, April 8th. Evercore ISI increased their price target on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. 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 report on Friday, March 15th. Citigroup increased their price target on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $286.00 to $371.00 in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $295.60.

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.