Everpar Advisors LLC Invests $710,000 in Eaton Co. plc (NYSE:ETN)

Everpar Advisors LLC bought a new position in Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,948 shares of the industrial products company’s stock, valued at approximately $710,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Tennessee Valley Asset Management Partners acquired a new position in Eaton during the 4th quarter valued at about $25,000. Valued Wealth Advisors LLC bought a new position in Eaton in the 4th quarter worth approximately $35,000. Chilton Capital Management LLC acquired a new stake in Eaton in the 4th quarter valued at approximately $35,000. Authentikos Wealth Advisory LLC bought a new stake in Eaton during the 3rd quarter valued at $39,000. Finally, Fortitude Family Office LLC bought a new position in shares of Eaton in the fourth quarter worth $46,000. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the sale, the insider now owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Peter Denk sold 1,731 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the sale, the insider now directly owns 5,514 shares in the company, valued at $1,593,380.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the sale, the insider now directly owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,969 shares of company stock worth $10,904,774. Corporate insiders own 0.33% of the company’s stock.

Eaton Stock Up 0.0 %

Shares of ETN traded up $0.06 during mid-day trading on Tuesday, reaching $327.30. The company’s stock had a trading volume of 1,792,924 shares, compared to its average volume of 2,025,208. The company has a market cap of $130.85 billion, a price-to-earnings ratio of 38.64, a price-to-earnings-growth ratio of 2.54 and a beta of 1.06. Eaton Co. plc has a 1 year low of $165.24 and a 1 year high of $333.05. 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 business has a fifty day moving average of $310.41 and a 200 day moving average of $264.55.

Eaton (NYSE:ETN) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The company had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the business posted $1.88 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, analysts forecast that Eaton Co. plc will post 10.45 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders 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 dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ETN shares. Evercore ISI upped their price objective on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Argus raised their price objective on shares of Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $250.00 to $300.00 in a research report on Tuesday, April 2nd. The Goldman Sachs Group lifted their price target on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Finally, Mizuho restated a “buy” rating and issued a $355.00 price objective (up previously from $340.00) on shares of Eaton in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

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.