Lyell Wealth Management LP Makes New $257,000 Investment in Eaton Co. plc (NYSE:ETN)

Lyell Wealth Management LP acquired a new position in shares of Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,067 shares of the industrial products company’s stock, valued at approximately $257,000.

Other large investors have also made changes to their positions in the company. Meeder Asset Management Inc. increased its holdings in Eaton by 3.3% during the 4th quarter. Meeder Asset Management Inc. now owns 1,315 shares of the industrial products company’s stock worth $317,000 after purchasing an additional 42 shares in the last quarter. Telemus Capital LLC increased its holdings in Eaton by 1.0% during the 4th quarter. Telemus Capital LLC now owns 4,111 shares of the industrial products company’s stock worth $990,000 after purchasing an additional 42 shares in the last quarter. Amarillo National Bank increased its holdings in Eaton by 3.5% during the 4th quarter. Amarillo National Bank now owns 1,270 shares of the industrial products company’s stock worth $306,000 after purchasing an additional 43 shares in the last quarter. Monument Capital Management increased its holdings in Eaton by 1.9% during the 4th quarter. Monument Capital Management now owns 2,415 shares of the industrial products company’s stock worth $582,000 after purchasing an additional 44 shares in the last quarter. Finally, Red Spruce Capital LLC grew its holdings in shares of Eaton by 0.3% in the 4th quarter. Red Spruce Capital LLC now owns 17,522 shares of the industrial products company’s stock valued at $4,220,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Down 0.5 %

NYSE ETN traded down $1.70 during trading hours on Thursday, hitting $317.09. The company’s stock had a trading volume of 2,009,138 shares, compared to its average volume of 1,943,776. Eaton Co. plc has a 52 week low of $161.12 and a 52 week high of $331.47. The company’s 50-day simple moving average is $303.06 and its two-hundred day simple moving average is $257.09. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $126.68 billion, a PE ratio of 39.77, a price-to-earnings-growth ratio of 2.59 and a beta of 1.07.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.47 by $0.08. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The firm had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter last year, the firm earned $2.06 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. Research analysts anticipate that Eaton Co. plc will post 10.28 EPS for the current fiscal year.

Eaton Dividend Announcement

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

Insider Transactions at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the transaction, the insider now directly owns 29,712 shares in the company, valued at approximately $8,116,427.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction on 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 approximately $20,244,140.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the completion of the transaction, the insider now directly owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The disclosure for this sale can be found here. Insiders sold a total of 38,969 shares of company stock worth $10,904,774 in the last quarter. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ETN shares. UBS Group boosted their price target on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. The Goldman Sachs Group upped their target price on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $286.00 to $371.00 in a research report on Friday, April 5th. Evercore ISI upped their target price on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Finally, Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average target price of $295.60.

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.