1,000 Shares in Eaton Co. plc (NYSE:ETN) Bought by LGT Group Foundation

LGT Group Foundation bought a new position in shares of Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,000 shares of the industrial products company’s stock, valued at approximately $241,000.

Other large investors have also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners acquired a new stake in Eaton during the 4th quarter worth about $25,000. Valued Wealth Advisors LLC acquired a new position in Eaton during the 4th quarter valued at about $35,000. Chilton Capital Management LLC acquired a new position in Eaton during the 4th quarter valued at about $35,000. Authentikos Wealth Advisory LLC acquired a new position in Eaton during the 3rd quarter valued at about $39,000. Finally, Legacy Financial Group LLC bought a new position in shares of Eaton during the 3rd quarter worth approximately $43,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on ETN shares. Royal Bank of Canada raised shares of Eaton from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $286.00 to $371.00 in a report on Friday, April 5th. Citigroup boosted their target price on shares of Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Mizuho reissued a “buy” rating and set a $355.00 target price (up previously from $340.00) on shares of Eaton in a report on Wednesday. Berenberg Bank boosted their price target on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, UBS Group boosted their price target on shares of Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Eaton Stock Performance

Shares of NYSE:ETN opened at $320.50 on Friday. The company has a market cap of $128.14 billion, a price-to-earnings ratio of 37.84, a price-to-earnings-growth ratio of 2.49 and a beta of 1.06. The company has a 50-day moving average price of $307.97 and a 200-day moving average price of $261.18. The company has a current ratio of 1.56, a quick ratio of 1.02 and a debt-to-equity ratio of 0.42. Eaton Co. plc has a 12 month low of $165.24 and a 12 month high of $333.05.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.28 by $0.12. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.88 earnings per share. As a group, equities analysts anticipate that Eaton Co. plc will post 10.45 EPS for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Friday, May 3rd. Eaton’s payout ratio is currently 44.39%.

Insider Buying and Selling

In related news, insider Heath B. Monesmith sold 13,027 shares of the 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 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 legal filing with the SEC, which is available through this link. In other Eaton 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 sale, the insider now owns 69,472 shares in the company, valued at $20,244,140.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Peter Denk sold 1,731 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was 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 in the company, valued at approximately $1,593,380.58. 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 three months. Corporate insiders own 0.53% of the company’s stock.

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.