Sivia Capital Partners LLC Makes New Investment in Eaton Co. plc (NYSE:ETN)

Sivia Capital Partners LLC purchased a new stake in shares of Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,109 shares of the industrial products company’s stock, valued at approximately $267,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Eaton by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 36,595,656 shares of the industrial products company’s stock worth $8,812,966,000 after purchasing an additional 259,615 shares during the period. ICA Group Wealth Management LLC acquired a new stake in Eaton in the fourth quarter worth $207,000. SageView Advisory Group LLC raised its holdings in Eaton by 148.6% in the fourth quarter. SageView Advisory Group LLC now owns 6,759 shares of the industrial products company’s stock worth $1,692,000 after purchasing an additional 4,040 shares during the period. Fisher Asset Management LLC raised its holdings in Eaton by 3.3% in the fourth quarter. Fisher Asset Management LLC now owns 186,307 shares of the industrial products company’s stock worth $44,867,000 after purchasing an additional 5,973 shares during the period. Finally, Congress Asset Management Co. MA raised its holdings in Eaton by 1.0% in the fourth quarter. Congress Asset Management Co. MA now owns 531,027 shares of the industrial products company’s stock worth $127,882,000 after purchasing an additional 5,395 shares during the period. 82.97% of the stock is owned by institutional investors.

Insider Transactions at Eaton

In other news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the completion of the transaction, the insider now owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.33% of the company’s stock.

Eaton Stock Up 1.7 %

ETN traded up $5.55 during trading on Monday, hitting $324.57. 1,454,199 shares of the company’s stock were exchanged, compared to its average volume of 2,012,995. The business’s 50 day moving average is $323.99 and its two-hundred day moving average is $286.75. The stock has a market cap of $129.76 billion, a P/E ratio of 37.66, a PEG ratio of 2.67 and a beta of 1.04. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. Eaton Co. plc has a fifty-two week low of $189.26 and a fifty-two week high of $345.19.

Eaton (NYSE:ETN) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the business earned $1.88 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities analysts expect that Eaton Co. plc will post 10.56 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, May 3rd. Eaton’s dividend payout ratio is 44.39%.

Analyst Ratings Changes

A number of equities research analysts recently commented on ETN shares. Bank of America raised their price objective on shares of Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Wolfe Research restated an “underperform” rating and set a $312.00 price objective on shares of Eaton in a report on Monday, April 8th. JPMorgan Chase & Co. raised their price objective on shares of Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Mizuho restated a “buy” rating and set a $355.00 price objective (up from $340.00) on shares of Eaton in a report on Wednesday, May 1st. Finally, Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $286.00 to $371.00 in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

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.