Eaton Co. plc (NYSE:ETN) Shares Acquired by Delta Investment Management LLC

Delta Investment Management LLC lifted its position in shares of Eaton Co. plc (NYSE:ETN) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,103 shares of the industrial products company’s stock after purchasing an additional 67 shares during the quarter. Delta Investment Management LLC’s holdings in Eaton were worth $988,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC grew its stake in Eaton by 36.0% in the 3rd quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after acquiring an additional 5,270,331 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Eaton in the 3rd quarter valued at $340,500,000. Deutsche Bank AG lifted its holdings in Eaton by 97.5% in the 3rd quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock valued at $396,767,000 after purchasing an additional 918,422 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in Eaton in the 3rd quarter valued at $67,305,000. Finally, International Assets Investment Management LLC lifted its holdings in Eaton by 21,664.8% in the 4th quarter. International Assets Investment Management LLC now owns 316,242 shares of the industrial products company’s stock valued at $76,157,000 after purchasing an additional 314,789 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

ETN has been the topic of a number of research reports. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $250.00 to $300.00 in a report on Tuesday, April 2nd. Bank of America raised their price objective on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. UBS Group lifted their price target on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Berenberg Bank lifted their price target on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Royal Bank of Canada upgraded Eaton from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $286.00 to $371.00 in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $295.60.

Insider Transactions at Eaton

In other news, insider Olivier Leonetti sold 4,461 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the completion of the transaction, the insider now directly owns 630 shares of the company’s stock, valued at $171,360. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Olivier Leonetti sold 4,461 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the completion of the transaction, the insider now directly owns 630 shares of the company’s stock, valued at $171,360. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the transaction, the insider now directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,969 shares of company stock valued at $10,904,774. 0.53% of the stock is currently owned by corporate insiders.

Eaton Stock Performance

NYSE ETN opened at $324.30 on Friday. The company has a market cap of $129.56 billion, a P/E ratio of 40.44, a P/E/G ratio of 2.69 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. The stock has a 50-day moving average of $304.82 and a two-hundred day moving average of $258.60. Eaton Co. plc has a 1-year low of $162.04 and a 1-year high of $331.47.

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

Eaton Dividend Announcement

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

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.