Team Hewins LLC Invests $481,000 in Eaton Co. plc (NYSE:ETN)

Team Hewins LLC purchased a new stake in shares of Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,996 shares of the industrial products company’s stock, valued at approximately $481,000.

A number of other large investors also recently bought and sold shares of ETN. NBC Securities Inc. acquired a new stake in Eaton during the third quarter valued at $255,000. Wilbanks Smith & Thomas Asset Management LLC increased its stake in shares of Eaton by 14.4% in the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 5,888 shares of the industrial products company’s stock valued at $1,256,000 after purchasing an additional 742 shares in the last quarter. Nicholas Hoffman & Company LLC. purchased a new position in Eaton during the third quarter worth approximately $216,000. Parsons Capital Management Inc. RI increased its position in shares of Eaton by 20.9% in the third quarter. Parsons Capital Management Inc. RI now owns 8,523 shares of the industrial products company’s stock valued at $1,818,000 after buying an additional 1,476 shares in the last quarter. Finally, Sfmg LLC raised its stake in shares of Eaton by 2.2% during the 3rd quarter. Sfmg LLC now owns 5,222 shares of the industrial products company’s stock worth $1,114,000 after buying an additional 113 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Up 0.7 %

ETN traded up $2.47 on Friday, hitting $340.89. The company had a trading volume of 1,495,686 shares, compared to its average volume of 2,098,512. The company’s fifty day moving average price is $320.31 and its 200 day moving average price is $275.36. Eaton Co. plc has a 1 year low of $172.67 and a 1 year high of $345.19. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The firm has a market cap of $136.29 billion, a P/E ratio of 40.25, a PEG ratio of 2.83 and a beta of 1.06.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The firm had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter last year, the company posted $1.88 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities analysts expect that Eaton Co. plc will post 10.56 earnings per share for the current year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is 44.39%.

Wall Street Analysts Forecast Growth

ETN has been the topic of several research analyst reports. Mizuho reiterated a “buy” rating and issued a $355.00 target price (up previously from $340.00) on shares of Eaton in a research report on Wednesday, May 1st. Bank of America lifted their price target on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Wolfe Research reissued an “underperform” rating and issued a $312.00 price objective on shares of Eaton in a research note on Monday, April 8th. The Goldman Sachs Group lifted their target price on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Finally, UBS Group raised their price target on shares of Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research note 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $314.27.

Insider Buying and Selling at Eaton

In related news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the completion of the transaction, the insider now directly owns 5,086 shares in the company, valued at $1,687,738.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Peter Denk sold 2,416 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total transaction of $801,725.44. Following the sale, the insider now directly owns 5,086 shares in the company, valued at $1,687,738.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heath B. Monesmith sold 13,027 shares of the business’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 transaction, the insider now 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 17,174 shares of company stock valued at $5,098,000 in the last three months. 0.53% of the stock is owned by corporate insiders.

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.