Joseph Group Capital Management Invests $1.40 Million in Eaton Co. plc (NYSE:ETN)

Joseph Group Capital Management acquired a new position in shares of Eaton Co. plc (NYSE:ETNGet Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 136 shares of the industrial products company’s stock, valued at approximately $1,403,000. Eaton accounts for about 1.3% of Joseph Group Capital Management’s holdings, making the stock its 27th biggest position.

Several other hedge funds also recently made changes to their positions in ETN. Bell Investment Advisors Inc acquired a new stake in Eaton in the 3rd quarter valued at $27,000. Arlington Partners LLC acquired a new stake in Eaton in the 4th quarter valued at $31,000. Blue Bell Private Wealth Management LLC acquired a new stake in Eaton in the 4th quarter valued at $35,000. Eagle Bay Advisors LLC grew its position in Eaton by 137.3% in the 3rd quarter. Eagle Bay Advisors LLC now owns 242 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 140 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new stake in Eaton in the 4th quarter valued at $42,000. 79.10% of the stock is owned by institutional investors.

In other Eaton news, insider Joao V. Faria sold 11,852 shares of Eaton stock in a transaction dated Tuesday, March 8th. The stock was sold at an average price of $150.00, for a total transaction of $1,777,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is owned by insiders.

Eaton stock traded down $0.42 during midday trading on Friday, reaching $141.33. The stock had a trading volume of 2,813,091 shares, compared to its average volume of 2,239,407. Eaton Co. plc has a 12 month low of $138.69 and a 12 month high of $175.72. The firm’s 50-day moving average price is $147.99 and its 200 day moving average price is $158.41. The firm has a market capitalization of $56.39 billion, a PE ratio of 25.56, a P/E/G ratio of 1.70 and a beta of 1.15. The company has a quick ratio of 0.59, a current ratio of 0.99 and a debt-to-equity ratio of 0.41.

Eaton (NYSE:ETNGet Rating) last posted its earnings results on Tuesday, May 3rd. The industrial products company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.02. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.78 billion. Eaton had a return on equity of 16.92% and a net margin of 11.21%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.44 EPS. Equities research analysts expect that Eaton Co. plc will post 7.52 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Shareholders of record on Friday, May 13th will be issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Thursday, May 12th. Eaton’s payout ratio is presently 58.59%.

A number of equities analysts have issued reports on the stock. Wolfe Research cut their price objective on shares of Eaton from $196.00 to $194.00 and set an “outperform” rating on the stock in a report on Monday, February 7th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Eaton from $176.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, April 14th. Robert W. Baird lifted their price objective on shares of Eaton from $150.00 to $155.00 in a report on Tuesday, May 3rd. Barclays cut their price objective on shares of Eaton from $155.00 to $145.00 in a report on Wednesday, May 4th. Finally, William Blair reaffirmed a “market perform” rating on shares of Eaton in a report on Thursday, March 3rd. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $173.47.

Eaton Company Profile (Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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