Financial Council LLC Has $263,000 Stock Holdings in Eaton Co. plc (NYSE:ETN)

Financial Council LLC decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 5.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 841 shares of the industrial products company’s stock after selling 47 shares during the period. Financial Council LLC’s holdings in Eaton were worth $263,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ETN. Norges Bank acquired a new stake in Eaton during the fourth quarter valued at $1,087,983,000. Jennison Associates LLC boosted its position in Eaton by 2,857.4% during the first quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock valued at $394,752,000 after purchasing an additional 1,219,790 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in Eaton by 2,006.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 964,728 shares of the industrial products company’s stock valued at $232,326,000 after purchasing an additional 918,936 shares during the last quarter. Capital World Investors acquired a new stake in Eaton during the fourth quarter valued at $181,411,000. Finally, Artisan Partners Limited Partnership boosted its position in Eaton by 207.5% during the fourth quarter. Artisan Partners Limited Partnership now owns 970,426 shares of the industrial products company’s stock valued at $233,698,000 after purchasing an additional 654,855 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

ETN traded up $1.71 on Thursday, hitting $328.78. 2,060,970 shares of the stock traded hands, compared to its average volume of 2,003,500. Eaton Co. plc has a 52 week low of $191.82 and a 52 week high of $345.19. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $131.45 billion, a PE ratio of 38.82, a P/E/G ratio of 2.68 and a beta of 1.02. The business has a fifty day moving average price of $325.74 and a two-hundred day moving average price of $297.47.

Eaton (NYSE:ETN) last issued its quarterly 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. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the previous year, the company posted $1.88 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, research analysts predict that Eaton Co. plc will post 10.55 EPS for the current fiscal year.

Eaton Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have weighed in on ETN shares. Jefferies Financial Group raised their target price on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group raised their target price on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a report on Friday, March 15th. Barclays raised their target price on Eaton from $316.00 to $318.00 and gave the company an “equal weight” rating in a report on Wednesday. Raymond James started coverage on Eaton in a report on Friday, June 28th. They set an “outperform” rating and a $375.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $323.06.

Insider Activity at Eaton

In other Eaton news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total transaction of $801,725.44. Following the sale, the insider now directly owns 5,086 shares of the company’s stock, valued at $1,687,738.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

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.