Eaton Co. plc (NYSE:ETN) Shares Purchased by Van Cleef Asset Management Inc

Van Cleef Asset Management Inc raised its position in shares of Eaton Co. plc (NYSE:ETN) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,988 shares of the industrial products company’s stock after buying an additional 50 shares during the quarter. Van Cleef Asset Management Inc’s holdings in Eaton were worth $479,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ETN. Vanguard Group Inc. grew its holdings in Eaton by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 36,336,041 shares of the industrial products company’s stock worth $7,749,751,000 after buying an additional 176,900 shares in the last quarter. FMR LLC boosted its stake in Eaton by 36.0% during 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 purchasing an additional 5,270,331 shares in the last quarter. Northern Trust Corp boosted its stake in Eaton by 2.2% during the 3rd quarter. Northern Trust Corp now owns 5,009,435 shares of the industrial products company’s stock valued at $1,068,412,000 after purchasing an additional 109,775 shares in the last quarter. Raymond James & Associates lifted its position in shares of Eaton by 3.8% during the 4th quarter. Raymond James & Associates now owns 3,739,725 shares of the industrial products company’s stock valued at $900,600,000 after acquiring an additional 138,465 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Eaton by 97.5% during 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 acquiring an additional 918,422 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

Eaton stock traded down $1.69 on Thursday, reaching $317.10. 2,416,304 shares of the stock were exchanged, compared to its average volume of 1,952,214. The stock has a market cap of $126.68 billion, a PE ratio of 39.77, a PEG ratio of 2.59 and a beta of 1.07. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. Eaton Co. plc has a twelve month low of $161.12 and a twelve month high of $331.47. The firm has a fifty day moving average price of $303.06 and a two-hundred day moving average price of $257.09.

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, topping analysts’ consensus estimates of $2.47 by $0.08. The firm had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.06 EPS. Sell-side analysts anticipate that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ETN shares. Mizuho increased their price objective on Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Berenberg Bank increased their target price on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $250.00 to $300.00 in a report on Tuesday, April 2nd. UBS Group increased their target price on Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Bank of America increased their price objective on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and an average price target of $295.60.

Insider Activity

In other news, insider Olivier Leonetti sold 4,461 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were 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 owns 630 shares of the company’s stock, valued at $171,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,969 shares of company stock valued at $10,904,774. Insiders own 0.53% of the company’s stock.

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.