Consolidated Planning Corp Buys 265 Shares of Eaton Co. plc (NYSE:ETN)

Consolidated Planning Corp raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,756 shares of the industrial products company’s stock after acquiring an additional 265 shares during the period. Eaton comprises approximately 1.1% of Consolidated Planning Corp’s investment portfolio, making the stock its 22nd largest holding. Consolidated Planning Corp’s holdings in Eaton were worth $5,962,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of ETN. Tennessee Valley Asset Management Partners bought a new stake in shares of Eaton during the 4th quarter worth $25,000. Valued Wealth Advisors LLC bought a new stake in shares of Eaton during the 4th quarter worth $35,000. Chilton Capital Management LLC bought a new stake in shares of Eaton during the 4th quarter worth $35,000. Authentikos Wealth Advisory LLC bought a new stake in shares of Eaton during the 3rd quarter worth $39,000. Finally, Legacy Financial Group LLC bought a new stake in shares of Eaton during the 3rd quarter worth $43,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Price Performance

ETN stock traded up $7.20 during mid-day trading on Friday, reaching $324.30. 2,305,692 shares of the company traded hands, compared to its average volume of 2,383,996. The company has a market capitalization of $129.56 billion, a P/E ratio of 40.42, a P/E/G ratio of 2.63 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 company has a fifty day moving average price of $304.82 and a 200-day moving average price of $258.28. Eaton Co. plc has a 52-week low of $162.04 and a 52-week high of $331.47.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. The firm 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%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the company posted $2.06 EPS. As a group, analysts anticipate that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.16%. Eaton’s dividend payout ratio (DPR) is presently 46.88%.

Insider Activity

In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the sale, the insider now owns 29,712 shares in the company, valued at approximately $8,116,427.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the sale, the insider now owns 29,712 shares in the company, valued at approximately $8,116,427.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the sale, the insider now owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,969 shares of company stock worth $10,904,774. 0.53% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Berenberg Bank lifted their target price on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Citigroup lifted their price objective on Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. The Goldman Sachs Group lifted their price objective on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, March 15th. UBS Group lifted their price objective on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Wolfe Research reissued an “underperform” rating and issued a $312.00 price objective on shares of Eaton in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.