Burleson & Company LLC Invests $107,000 in Eaton Co. plc (NYSE:ETN)

Burleson & Company LLC purchased a new position in Eaton Co. plc (NYSE:ETN) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 774 shares of the industrial products company’s stock, valued at approximately $107,000.

A number of other hedge funds also recently modified their holdings of the business. M&G Investment Management Ltd. raised its holdings in Eaton by 45.4% during the 1st quarter. M&G Investment Management Ltd. now owns 9,836 shares of the industrial products company’s stock valued at $1,357,000 after buying an additional 3,071 shares during the period. InterOcean Capital Group LLC purchased a new stake in shares of Eaton in the first quarter valued at $208,000. Elo Mutual Pension Insurance Co lifted its holdings in shares of Eaton by 1.1% in the 1st quarter. Elo Mutual Pension Insurance Co now owns 28,756 shares of the industrial products company’s stock worth $3,976,000 after acquiring an additional 310 shares during the last quarter. First National Bank purchased a new position in shares of Eaton during the 1st quarter worth about $376,000. Finally, Mid Atlantic Financial Management Inc. ADV raised its position in Eaton by 3.5% in the 1st quarter. Mid Atlantic Financial Management Inc. ADV now owns 4,726 shares of the industrial products company’s stock worth $653,000 after purchasing an additional 161 shares during the period. Institutional investors and hedge funds own 78.06% of the company’s stock.

ETN has been the topic of several recent analyst reports. Evercore ISI increased their price target on Eaton from $139.00 to $168.00 in a report on Wednesday, May 12th. HSBC raised Eaton from a “hold” rating to a “buy” rating and increased their price objective for the stock from $103.00 to $140.00 in a research note on Tuesday, February 16th. Citigroup upped their target price on Eaton from $142.00 to $158.00 and gave the stock a “buy” rating in a report on Wednesday, March 31st. Berenberg Bank raised shares of Eaton from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research report on Monday, March 15th. Finally, Zacks Investment Research lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $150.00 price target on the stock. in a report on Tuesday, April 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $149.29.

In related news, insider Sternadt Paulo Ruiz sold 14,254 shares of the business’s stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of $146.41, for a total transaction of $2,086,928.14. Following the completion of the sale, the insider now directly owns 63,485 shares in the company, valued at $9,294,838.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian S. Brickhouse sold 7,659 shares of the firm’s stock in a transaction on Friday, May 14th. The shares were sold at an average price of $148.16, for a total value of $1,134,757.44. Following the completion of the transaction, the insider now owns 18,235 shares in the company, valued at approximately $2,701,697.60. The disclosure for this sale can be found here. In the last three months, insiders sold 28,313 shares of company stock valued at $4,159,670. 0.53% of the stock is owned by insiders.

Shares of NYSE:ETN opened at $146.82 on Friday. The firm has a market capitalization of $58.51 billion, a P/E ratio of 41.24, a PEG ratio of 2.14 and a beta of 1.14. Eaton Co. plc has a 12-month low of $82.44 and a 12-month high of $149.38. The firm has a 50 day moving average of $143.83. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.51 and a quick ratio of 1.14.

Eaton (NYSE:ETN) last released its quarterly earnings results on Tuesday, May 4th. The industrial products company reported $1.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.19. Eaton had a net margin of 8.05% and a return on equity of 12.55%. The company had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same quarter last year, the business earned $1.09 earnings per share. The firm’s revenue was down 1.9% on a year-over-year basis. On average, equities research analysts anticipate that Eaton Co. plc will post 6.25 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 28th. Stockholders of record on Friday, May 14th were given a dividend of $0.76 per share. The ex-dividend date was Thursday, May 13th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.07%. Eaton’s dividend payout ratio (DPR) is 71.70%.

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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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