Kovack Advisors Inc. Purchases New Holdings in Eaton Co. plc (NYSE:ETN)

Kovack Advisors Inc. purchased a new stake in shares of Eaton Co. plc (NYSE:ETN) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 2,558 shares of the industrial products company’s stock, valued at approximately $354,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oppenheimer & Co. Inc. increased its stake in Eaton by 8.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 49,239 shares of the industrial products company’s stock valued at $5,916,000 after acquiring an additional 3,869 shares during the period. San Francisco Sentry Investment Group CA boosted its holdings in Eaton by 15.8% during the fourth quarter. San Francisco Sentry Investment Group CA now owns 1,394 shares of the industrial products company’s stock valued at $167,000 after purchasing an additional 190 shares in the last quarter. Braun Stacey Associates Inc. boosted its holdings in Eaton by 1.3% during the first quarter. Braun Stacey Associates Inc. now owns 172,832 shares of the industrial products company’s stock valued at $23,899,000 after purchasing an additional 2,258 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Eaton by 405.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 92,200 shares of the industrial products company’s stock valued at $11,077,000 after purchasing an additional 73,950 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Eaton by 1.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 133,865 shares of the industrial products company’s stock valued at $16,083,000 after purchasing an additional 1,366 shares in the last quarter. Hedge funds and other institutional investors own 77.88% of the company’s stock.

NYSE:ETN opened at $148.16 on Monday. The stock’s fifty day moving average price is $142.01 and its two-hundred day moving average price is $127.16. Eaton Co. plc has a 52-week low of $73.12 and a 52-week high of $149.38. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.13 and a current ratio of 1.49. The company has a market cap of $59.04 billion, a price-to-earnings ratio of 43.58, a P/E/G ratio of 2.34 and a beta of 1.12.

Eaton (NYSE:ETN) last issued its earnings results on Tuesday, May 4th. The industrial products company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.25 by $0.19. The company had revenue of $4.70 billion during the quarter, compared to analysts’ expectations of $4.53 billion. Eaton had a net margin of 7.53% and a return on equity of 11.94%. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. On average, equities analysts predict that Eaton Co. plc will post 4.17 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 28th. Shareholders of record on Friday, May 14th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Thursday, May 13th. Eaton’s payout ratio is 53.62%.

In related news, insider Brian S. Brickhouse sold 22,758 shares of the company’s stock in a transaction on Wednesday, March 3rd. The shares were sold at an average price of $135.80, for a total value of $3,090,536.40. Following the completion of the sale, the insider now owns 15,587 shares in the company, valued at approximately $2,116,714.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Uday Yadav sold 11,769 shares of the company’s stock in a transaction on Thursday, February 25th. The shares were sold at an average price of $132.17, for a total transaction of $1,555,508.73. Following the completion of the sale, the insider now owns 22,436 shares of the company’s stock, valued at approximately $2,965,366.12. The disclosure for this sale can be found here. Insiders have sold a total of 50,994 shares of company stock valued at $7,031,994 in the last quarter. Corporate insiders own 0.54% of the company’s stock.

ETN has been the topic of a number of recent research reports. Berenberg Bank raised Eaton from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a report on Monday, March 15th. Deutsche Bank Aktiengesellschaft boosted their target price on Eaton from $139.00 to $156.00 and gave the stock a “buy” rating in a report on Monday, April 19th. Royal Bank of Canada boosted their target price on Eaton from $134.00 to $145.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 5th. Barclays boosted their target price on Eaton from $115.00 to $125.00 and gave the stock an “underweight” rating in a report on Tuesday, April 6th. Finally, Morgan Stanley boosted their target price on Eaton from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Tuesday, May 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company’s stock. Eaton has an average rating of “Buy” and a consensus price target of $149.29.

About Eaton

Eaton Corporation plc operates as a power management company. Its Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services in North and South America, as well as hazardous duty electrical, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems internationally.

Featured Article: Float

Want to see what other hedge funds are holding ETN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eaton Co. plc (NYSE:ETN).

Institutional Ownership by Quarter for Eaton (NYSE:ETN)

Receive News & Ratings for Eaton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton and related companies with MarketBeat.com's FREE daily email newsletter.