Manchester Capital Management LLC Purchases 54 Shares of Eaton Co. plc (NYSE:ETN)

Manchester Capital Management LLC increased its holdings in Eaton Co. plc (NYSE:ETNFree Report) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,871 shares of the industrial products company’s stock after purchasing an additional 54 shares during the period. Manchester Capital Management LLC’s holdings in Eaton were worth $691,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Tennessee Valley Asset Management Partners bought a new position in shares of Eaton in the 4th quarter valued at about $25,000. Valued Wealth Advisors LLC bought a new position in shares of Eaton during the 4th quarter valued at approximately $35,000. Chilton Capital Management LLC purchased a new stake in Eaton during the 4th quarter valued at $35,000. Authentikos Wealth Advisory LLC bought a new stake in Eaton in the third quarter worth $39,000. Finally, Fortitude Family Office LLC purchased a new position in Eaton during the fourth quarter worth $46,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ETN shares. HSBC raised their target price on shares of Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $286.00 to $371.00 in a research note on Friday, April 5th. Berenberg Bank raised their price target on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Argus lifted their target price on Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Citigroup boosted their target price on shares of Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Read Our Latest Stock Analysis on Eaton

Eaton Stock Up 0.0 %

Eaton stock traded up $0.06 during mid-day trading on Friday, reaching $330.24. 1,881,539 shares of the company were exchanged, compared to its average volume of 2,429,416. Eaton Co. plc has a 12-month low of $167.33 and a 12-month high of $338.88. The business has a fifty day moving average of $316.38 and a 200 day moving average of $271.53. The firm has a market cap of $132.03 billion, a P/E ratio of 38.99, a PEG ratio of 2.60 and a beta of 1.06. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56.

Eaton (NYSE:ETNGet Free Report) last posted its earnings results 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 company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.88 earnings per share. Research analysts anticipate that Eaton Co. plc will post 10.51 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 1.14%. Eaton’s payout ratio is 44.39%.

Insider Buying and Selling at Eaton

In other news, insider Peter Denk sold 1,731 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, the insider now owns 5,514 shares in the company, valued at $1,593,380.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related 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 value 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 SEC, which is available through this link. Also, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction on 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 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. Insiders sold a total of 17,174 shares of company stock worth $5,098,000 over the last three months. Corporate insiders own 0.53% of the company’s stock.

About Eaton

(Free Report)

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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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