1,629 Shares in Eaton Co. plc (NYSE:ETN) Bought by Tilt Investment Management Holdings PBC

Tilt Investment Management Holdings PBC purchased a new position in shares of Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,629 shares of the industrial products company’s stock, valued at approximately $392,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Tennessee Valley Asset Management Partners acquired a new stake in shares of Eaton in the 4th quarter worth about $25,000. PCA Investment Advisory Services Inc. purchased a new stake in shares of Eaton in the second quarter worth approximately $27,000. Valued Wealth Advisors LLC bought a new position in shares of Eaton in the fourth quarter valued at approximately $35,000. Chilton Capital Management LLC purchased a new position in shares of Eaton during the fourth quarter valued at approximately $35,000. Finally, Global Trust Asset Management LLC bought a new stake in Eaton during the third quarter worth $32,000. 82.97% of the stock is owned by institutional investors.

Eaton Stock Performance

NYSE:ETN traded down $0.18 on Thursday, reaching $310.00. 1,014,067 shares of the company’s stock were exchanged, compared to its average volume of 1,880,723. The firm has a market cap of $123.85 billion, a price-to-earnings ratio of 38.67, a P/E/G ratio of 2.61 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 fifty day simple moving average of $299.48 and a 200-day simple moving average of $253.53. Eaton Co. plc has a 52 week low of $161.12 and a 52 week high of $331.47.

Eaton (NYSE:ETN) last released its quarterly earnings data 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 company had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the firm earned $2.06 EPS. Eaton’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts predict that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 11th were issued a dividend of $0.94 per share. This is a boost from Eaton’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Friday, March 8th. This represents a $3.76 dividend on an annualized basis and a yield of 1.21%. Eaton’s dividend payout ratio is 46.88%.

Analyst Ratings Changes

Several equities analysts have weighed in on ETN shares. Berenberg Bank raised their price objective on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Citigroup boosted their price target on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $286.00 to $371.00 in a research note on Friday, April 5th. Mizuho boosted their price objective on Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, Bank of America raised their target price on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $295.60.

Insider Buying and Selling at Eaton

In other news, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction dated 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 sale, the insider now directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related 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 in the company, valued at $171,360. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 69,472 shares in the company, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. Insiders sold 38,969 shares of company stock valued at $10,904,774 in the last quarter. 0.53% of the stock is currently owned by corporate insiders.

Eaton 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.