Eaton Co. plc (NYSE:ETN) Stock Holdings Increased by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its holdings in Eaton Co. plc (NYSE:ETN) by 19.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,520 shares of the industrial products company’s stock after purchasing an additional 2,231 shares during the quarter. Park Avenue Securities LLC’s holdings in Eaton were worth $4,487,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Groupama Asset Managment boosted its stake in Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN boosted its stake in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new position in Eaton during the third quarter worth about $33,000. West Financial Advisors LLC bought a new stake in Eaton in the third quarter worth about $35,000. Finally, DT Investment Partners LLC acquired a new stake in Eaton in the 3rd quarter valued at about $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Price Performance

Shares of NYSE:ETN opened at $345.02 on Friday. The business has a fifty day simple moving average of $355.04 and a 200 day simple moving average of $329.43. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 1 year low of $236.04 and a 1 year high of $379.99. The firm has a market cap of $136.35 billion, a price-to-earnings ratio of 36.70, a P/E/G ratio of 2.27 and a beta of 1.06.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.47 EPS. As a group, sell-side analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Monday, November 4th. Eaton’s payout ratio is presently 40.00%.

Wall Street Analyst Weigh In

ETN has been the topic of a number of research reports. Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and boosted their target price for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. UBS Group began coverage on Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday. Wells Fargo & Company decreased their price target on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada boosted their price objective on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $368.89.

Insider Buying and Selling

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,981 shares of company stock worth $27,660,117. Corporate insiders own 0.33% of the company’s stock.

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.