Stokes Family Office LLC Acquires 2,074 Shares of Eaton Co. plc (NYSE:ETN)

Stokes Family Office LLC lifted its stake in Eaton Co. plc (NYSE:ETN) by 26.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,782 shares of the industrial products company’s stock after buying an additional 2,074 shares during the period. Stokes Family Office LLC’s holdings in Eaton were worth $3,059,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ETN. Silver Oak Securities Incorporated acquired a new position in shares of Eaton in the 3rd quarter valued at approximately $80,000. Graham Capital Management L.P. bought a new stake in Eaton during the third quarter worth $1,345,000. USA Financial Formulas boosted its holdings in shares of Eaton by 31.1% in the 3rd quarter. USA Financial Formulas now owns 1,147 shares of the industrial products company’s stock valued at $245,000 after purchasing an additional 272 shares in the last quarter. Bar Harbor Wealth Management increased its stake in shares of Eaton by 3.4% in the 3rd quarter. Bar Harbor Wealth Management now owns 11,608 shares of the industrial products company’s stock valued at $2,476,000 after purchasing an additional 377 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new position in shares of Eaton during the 3rd quarter worth $479,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Up 0.5 %

Eaton stock traded up $1.69 during mid-day trading on Friday, hitting $330.51. 1,644,813 shares of the stock were exchanged, compared to its average volume of 2,000,803. The stock has a market capitalization of $132.14 billion, a price-to-earnings ratio of 39.21, a PEG ratio of 2.75 and a beta of 1.02. Eaton Co. plc has a 12 month low of $191.82 and a 12 month high of $345.19. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. The firm’s fifty day simple moving average is $325.74 and its two-hundred day simple moving average is $297.47.

Eaton (NYSE:ETN) last announced 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. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. Eaton’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.88 earnings per share. Analysts forecast that Eaton Co. plc will post 10.55 EPS for the current year.

Eaton Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ETN shares. Raymond James began coverage on Eaton in a research note on Friday, June 28th. They issued an “outperform” rating and a $375.00 price objective on the stock. Jefferies Financial Group lifted their price target on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday. HSBC increased their price objective on shares of Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Bank of America upped their price target on shares of Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, Wolfe Research reissued an “underperform” rating and set a $312.00 price objective on shares of Eaton in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $323.06.

Insider Buying and Selling

In related news, insider Peter Denk sold 2,416 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the transaction, the insider now directly owns 5,086 shares in the company, valued at approximately $1,687,738.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.53% of the stock is owned by company insiders.

About Eaton

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.