Eaton Co. plc (NYSE:ETN) Shares Acquired by Trifecta Capital Advisors LLC

Trifecta Capital Advisors LLC boosted its position in Eaton Co. plc (NYSE:ETN) by 18.3% in the 1st quarter, Holdings Channel reports. The fund owned 12,814 shares of the industrial products company’s stock after purchasing an additional 1,986 shares during the period. Trifecta Capital Advisors LLC’s holdings in Eaton were worth $4,007,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fragasso Group Inc. increased its stake in Eaton by 3.6% in the first quarter. Fragasso Group Inc. now owns 1,032 shares of the industrial products company’s stock valued at $323,000 after purchasing an additional 36 shares during the last quarter. FinTrust Capital Advisors LLC lifted its holdings in shares of Eaton by 2.6% during the 4th quarter. FinTrust Capital Advisors LLC now owns 1,481 shares of the industrial products company’s stock worth $357,000 after acquiring an additional 37 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Eaton by 3.3% in the fourth quarter. Meeder Asset Management Inc. now owns 1,315 shares of the industrial products company’s stock worth $317,000 after acquiring an additional 42 shares during the last quarter. Telemus Capital LLC grew its holdings in Eaton by 1.0% in the fourth quarter. Telemus Capital LLC now owns 4,111 shares of the industrial products company’s stock valued at $990,000 after purchasing an additional 42 shares during the period. Finally, Amarillo National Bank increased its position in Eaton by 3.5% during the fourth 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 during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Down 0.1 %

Shares of Eaton stock traded down $0.39 on Friday, hitting $313.55. 2,557,711 shares of the company’s stock traded hands, compared to its average volume of 2,258,211. Eaton Co. plc has a 52-week low of $191.82 and a 52-week high of $345.19. 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 stock has a market cap of $125.36 billion, a P/E ratio of 37.02, a PEG ratio of 2.63 and a beta of 1.04. The firm’s 50-day moving average is $325.35 and its 200 day moving average is $292.34.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.12. The firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. Eaton’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.88 earnings per share. Equities analysts anticipate that Eaton Co. plc will post 10.56 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.20%. Eaton’s dividend payout ratio (DPR) is 44.39%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ETN. Royal Bank of Canada raised shares of Eaton from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $286.00 to $371.00 in a research note on Friday, April 5th. Argus increased their target price on shares of Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Wolfe Research reaffirmed an “underperform” rating and set a $312.00 price target on shares of Eaton in a research report on Monday, April 8th. JPMorgan Chase & Co. increased their price objective on shares of Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $250.00 to $300.00 in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $318.06.

Insider Transactions at Eaton

In other Eaton news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the completion of the transaction, the insider now directly owns 5,086 shares in the company, valued at $1,687,738.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.

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.