Eaton Co. plc (NYSE:ETN) Shares Acquired by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC grew its holdings in Eaton Co. plc (NYSE:ETN) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,293 shares of the industrial products company’s stock after buying an additional 234 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Eaton were worth $1,515,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Eaton by 0.5% in the third quarter. Vanguard Group Inc. now owns 36,336,041 shares of the industrial products company’s stock valued at $7,749,751,000 after buying an additional 176,900 shares during the last quarter. FMR LLC raised its position in shares of Eaton by 36.0% in the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after buying an additional 5,270,331 shares during the last quarter. Northern Trust Corp increased its position in Eaton by 2.2% during the third quarter. Northern Trust Corp now owns 5,009,435 shares of the industrial products company’s stock worth $1,068,412,000 after purchasing an additional 109,775 shares during the last quarter. Raymond James & Associates increased its position in Eaton by 3.8% during the fourth quarter. Raymond James & Associates now owns 3,739,725 shares of the industrial products company’s stock worth $900,600,000 after purchasing an additional 138,465 shares during the last quarter. Finally, Deutsche Bank AG increased its position in Eaton by 97.5% during the third quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock worth $396,767,000 after purchasing an additional 918,422 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the transaction, the insider now owns 630 shares of the company’s stock, valued at $171,360. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the transaction, the insider now owns 630 shares in the company, valued at $171,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction that occurred on Wednesday, February 7th. The stock was 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 owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,969 shares of company stock valued at $10,904,774. 0.53% of the stock is currently owned by company insiders.

Eaton Price Performance

Shares of ETN opened at $324.17 on Friday. The firm has a 50-day simple moving average of $304.82 and a two-hundred day simple moving average of $258.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. Eaton Co. plc has a 1-year low of $162.04 and a 1-year high of $331.47. The stock has a market cap of $129.51 billion, a PE ratio of 40.42, a P/E/G ratio of 2.63 and a beta of 1.07.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, beating 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 business had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the firm posted $2.06 earnings per share. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, analysts forecast that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s payout ratio is 46.88%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Mizuho raised their price objective on shares of Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Citigroup raised their price objective on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. The Goldman Sachs Group raised their price objective on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $286.00 to $371.00 in a research report on Friday, April 5th. Finally, Evercore ISI raised their price objective on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.60.

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.