NCM Capital Management LLC Acquires 110 Shares of Eaton Co. plc (NYSE:ETN)

NCM Capital Management LLC lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 3.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,549 shares of the industrial products company’s stock after purchasing an additional 110 shares during the period. NCM Capital Management LLC’s holdings in Eaton were worth $1,178,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC bought a new position in Eaton during the fourth quarter worth $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in Eaton in the fourth quarter worth $33,000. Activest Wealth Management increased its stake in Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 87 shares in the last quarter. Finally, Knuff & Co LLC acquired a new position in shares of Eaton during the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, insider Craig Arnold sold 103,486 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the sale, the insider now directly owns 490,208 shares in the company, valued at approximately $158,214,632. This represents a 17.43% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the transaction, the insider now owns 3,382 shares of the company’s stock, valued at $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is owned by company insiders.

Eaton Stock Performance

ETN stock opened at $327.96 on Wednesday. The business has a 50 day moving average of $289.04 and a 200-day moving average of $319.49. The firm has a market cap of $128.33 billion, a PE ratio of 34.52, a P/E/G ratio of 2.64 and a beta of 1.14. Eaton Co. plc has a 12-month low of $231.85 and a 12-month high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.02. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $2.40 EPS. As a group, sell-side analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.27%. Eaton’s payout ratio is currently 41.98%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ETN. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. KeyCorp raised their price objective on Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. StockNews.com raised Eaton from a “hold” rating to a “buy” rating in a research report on Sunday. Evercore ISI lifted their price target on shares of Eaton from $326.00 to $349.00 and gave the company an “in-line” rating in a research report on Monday. Finally, Jefferies Financial Group decreased their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $367.83.

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.