Choreo LLC Has $933,000 Holdings in Eaton Co. plc (NYSE:ETN)

Choreo LLC grew its position in Eaton Co. plc (NYSE:ETN) by 95.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,873 shares of the industrial products company’s stock after buying an additional 1,893 shares during the quarter. Choreo LLC’s holdings in Eaton were worth $933,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Tennessee Valley Asset Management Partners bought a new position in shares of Eaton in the fourth quarter worth about $25,000. Valued Wealth Advisors LLC acquired a new stake in shares of Eaton in the fourth quarter valued at approximately $35,000. Chilton Capital Management LLC acquired a new position in Eaton during the 4th quarter worth $35,000. Authentikos Wealth Advisory LLC bought a new position in Eaton in the 3rd quarter valued at $39,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Eaton in the 4th quarter valued at $46,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Down 2.0 %

Shares of Eaton stock opened at $312.03 on Thursday. The company has a market capitalization of $124.66 billion, a P/E ratio of 38.91, a price-to-earnings-growth ratio of 2.71 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. The business has a 50-day moving average of $307.35 and a two-hundred day moving average of $260.80. Eaton Co. plc has a 1 year low of $165.24 and a 1 year high of $333.05.

Eaton (NYSE:ETN) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The business had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the prior year, the business earned $1.88 EPS. Eaton’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities analysts predict that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s payout ratio is presently 46.88%.

Analysts Set New Price Targets

ETN has been the topic of several research reports. Bank of America upped their price target on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Mizuho restated a “buy” rating and set a $355.00 target price (up from $340.00) on shares of Eaton in a research report on Wednesday. Berenberg Bank lifted their price target on shares of Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $286.00 to $371.00 in a report on Friday, April 5th. Finally, The Goldman Sachs Group raised their price objective on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $302.93.

Insiders Place Their Bets

In other news, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the transaction, the insider now directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Eaton news, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the sale, the insider now directly owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the transaction, the insider now owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,969 shares of company stock worth $10,904,774. Corporate insiders own 0.53% 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.