Eaton Co. plc (NYSE:ETN) Shares Purchased by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC increased its position in shares of Eaton Co. plc (NYSE:ETN) by 30.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 81,024 shares of the industrial products company’s stock after purchasing an additional 18,748 shares during the quarter. Eaton accounts for 1.1% of Alpha Cubed Investments LLC’s investment portfolio, making the stock its 29th biggest holding. Alpha Cubed Investments LLC’s holdings in Eaton were worth $19,512,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETN. Tennessee Valley Asset Management Partners acquired a new position in shares of Eaton in the fourth quarter worth $25,000. Valued Wealth Advisors LLC acquired a new position in shares of Eaton in the fourth quarter worth $35,000. Chilton Capital Management LLC acquired a new position in shares of Eaton in the fourth quarter worth $35,000. Authentikos Wealth Advisory LLC acquired a new position in shares of Eaton in the third quarter worth $39,000. Finally, Legacy Financial Group LLC acquired a new position in shares of Eaton in the third quarter worth $43,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Down 2.5 %

Shares of NYSE:ETN traded down $8.15 during trading on Tuesday, hitting $318.36. The company’s stock had a trading volume of 5,279,264 shares, compared to its average volume of 2,011,462. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.51. Eaton Co. plc has a fifty-two week low of $165.24 and a fifty-two week high of $333.05. The stock’s 50-day moving average price is $305.81 and its two-hundred day moving average price is $259.67. The company has a market capitalization of $127.18 billion, a PE ratio of 40.75, a PEG ratio of 2.69 and a beta of 1.07.

Eaton (NYSE:ETN) last released its quarterly earnings results 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 return on equity of 20.05% and a net margin of 13.88%. The business had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the firm posted $2.06 earnings per share. The company’s revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts expect that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s payout ratio is currently 46.88%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. UBS Group boosted 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. Mizuho lifted 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. The Goldman Sachs Group lifted their price objective on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Bank of America lifted their price objective on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, Citigroup boosted their price target on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $295.60.

Insider Buying and Selling at Eaton

In other Eaton news, insider Peter Denk sold 1,731 shares of the company’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 transaction of $500,207.07. Following the sale, the insider now owns 5,514 shares in the company, valued at $1,593,380.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Peter Denk sold 1,731 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total transaction of $500,207.07. Following the sale, the insider now directly owns 5,514 shares in the company, valued at approximately $1,593,380.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the 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 sale, the insider now owns 29,712 shares in the company, valued at $8,116,427.04. The disclosure for this sale can be found here. Insiders have sold 38,969 shares of company stock worth $10,904,774 over the last quarter. 0.33% of the stock is 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.