Leeward Financial Partners LLC Purchases 1,011 Shares of Eaton Co. plc (NYSE:ETN)

Leeward Financial Partners LLC raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 5.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 18,395 shares of the industrial products company’s stock after purchasing an additional 1,011 shares during the period. Eaton makes up approximately 2.4% of Leeward Financial Partners LLC’s portfolio, making the stock its 11th biggest holding. Leeward Financial Partners LLC’s holdings in Eaton were worth $5,752,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Qube Research & Technologies Ltd purchased a new stake in Eaton in the 3rd quarter valued at about $4,814,000. Schonfeld Strategic Advisors LLC bought a new stake in Eaton during the third quarter worth $2,720,000. Jones Financial Companies Lllp boosted its position in Eaton by 322.9% in the third quarter. Jones Financial Companies Lllp now owns 351 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 268 shares during the last quarter. AQR Capital Management LLC grew its stake in Eaton by 47.7% in the 3rd quarter. AQR Capital Management LLC now owns 200,225 shares of the industrial products company’s stock valued at $42,704,000 after purchasing an additional 64,685 shares during the period. Finally, Shelton Capital Management increased its position in shares of Eaton by 5.6% during the 3rd quarter. Shelton Capital Management now owns 15,229 shares of the industrial products company’s stock valued at $3,248,000 after purchasing an additional 813 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Price Performance

Shares of ETN stock traded up $5.14 on Wednesday, reaching $318.42. The company’s stock had a trading volume of 1,122,857 shares, compared to its average volume of 2,020,785. Eaton Co. plc has a 12-month low of $191.82 and a 12-month high of $345.19. The stock’s 50 day simple moving average is $325.44 and its 200-day simple moving average is $294.18. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $127.30 billion, a P/E ratio of 37.65, a PEG ratio of 2.64 and a beta of 1.02.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 EPS 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 for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the prior year, the firm earned $1.88 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities analysts predict that Eaton Co. plc will post 10.55 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Bank of America increased their price target on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Berenberg Bank lifted their price target on shares of Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Raymond James began coverage on Eaton in a research report on Friday, June 28th. They issued an “outperform” rating and a $375.00 target price for the company. Finally, Mizuho reaffirmed a “buy” rating and set a $355.00 price target (up previously from $340.00) on shares of Eaton in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average price target of $318.06.

Insiders Place Their Bets

In other Eaton news, insider Peter Denk sold 2,416 shares of the stock in a transaction 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 completion of the sale, the insider now owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by insiders.

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.