Stevens Capital Management LP Makes New $947,000 Investment in Eaton Co. plc (NYSE:ETN)

Stevens Capital Management LP bought a new position in Eaton Co. plc (NYSE:ETN) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 3,933 shares of the industrial products company’s stock, valued at approximately $947,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Tennessee Valley Asset Management Partners acquired a new position in Eaton during the fourth quarter worth $25,000. Valued Wealth Advisors LLC acquired a new position in shares of Eaton during the 4th quarter worth $35,000. Chilton Capital Management LLC purchased a new stake in shares of Eaton in the 4th quarter worth about $35,000. Authentikos Wealth Advisory LLC acquired a new stake in Eaton in the 3rd quarter valued at about $39,000. Finally, Legacy Financial Group LLC acquired a new position in Eaton during the third quarter worth about $43,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Wolfe Research reiterated an “underperform” rating and issued a $312.00 target price on shares of Eaton in a research note on Monday, April 8th. Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. UBS Group upped their price objective on shares of Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Berenberg Bank boosted their target price on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $295.60.

Insider Activity at Eaton

In related news, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the sale, the insider now owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction dated 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 transaction, the insider now directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the completion of the transaction, the insider now directly owns 630 shares in the company, valued at approximately $171,360. 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 three months. 0.53% of the stock is owned by company insiders.

Eaton Stock Performance

Shares of ETN stock traded down $1.69 on Thursday, hitting $317.10. 2,417,818 shares of the stock traded hands, compared to its average volume of 1,952,214. The company has a market capitalization of $126.68 billion, a PE ratio of 39.77, a PEG ratio of 2.59 and a beta of 1.07. The company’s fifty day moving average is $303.06 and its 200 day moving average is $257.09. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. Eaton Co. plc has a 1-year low of $161.12 and a 1-year high of $331.47.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The firm 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%. Eaton’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company posted $2.06 earnings per share. On average, equities research analysts predict that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.19%. Eaton’s dividend payout ratio is presently 46.88%.

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.