Telemus Capital LLC Buys 42 Shares of Eaton Co. plc (NYSE:ETN)

Telemus Capital LLC boosted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.0% during the 4th quarter, Holdings Channel reports. The firm owned 4,111 shares of the industrial products company’s stock after buying an additional 42 shares during the period. Telemus Capital LLC’s holdings in Eaton were worth $990,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Eaton by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 36,336,041 shares of the industrial products company’s stock valued at $7,749,751,000 after purchasing an additional 176,900 shares during the period. FMR LLC increased its stake in Eaton by 36.0% in the 3rd quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock worth $4,248,960,000 after acquiring an additional 5,270,331 shares during the last quarter. Northern Trust Corp increased its stake in Eaton by 2.2% in the 3rd quarter. Northern Trust Corp now owns 5,009,435 shares of the industrial products company’s stock worth $1,068,412,000 after acquiring an additional 109,775 shares during the last quarter. Raymond James & Associates increased its stake in Eaton by 3.8% in the 4th quarter. Raymond James & Associates now owns 3,739,725 shares of the industrial products company’s stock worth $900,600,000 after acquiring an additional 138,465 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Eaton by 97.5% in the 3rd quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock worth $396,767,000 after acquiring an additional 918,422 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 0.9 %

Eaton stock traded up $2.77 during mid-day trading on Monday, hitting $305.79. The company’s stock had a trading volume of 791,536 shares, compared to its average volume of 1,893,086. The company has a 50 day moving average of $300.70 and a 200-day moving average of $255.20. The stock has a market cap of $122.16 billion, a PE ratio of 37.97, a P/E/G ratio of 2.51 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.51. Eaton Co. plc has a one year low of $161.12 and a one year high of $331.47.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.47 by $0.08. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The company had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the company posted $2.06 EPS. Eaton’s quarterly revenue was up 10.8% on a year-over-year basis. On average, research analysts anticipate that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were given a dividend of $0.94 per share. This is an increase from Eaton’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Friday, March 8th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.23%. Eaton’s dividend payout ratio is presently 46.88%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $286.00 to $371.00 in a research note on Friday, April 5th. Citigroup lifted their price objective on Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Evercore ISI lifted their target price on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Berenberg Bank lifted their target price on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Wolfe Research reiterated an “underperform” rating and issued a $312.00 target price on shares of Eaton in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $295.60.

Insider Transactions at Eaton

In other news, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction on 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 transaction, the insider now owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 stock was sold at an average price of $288.97, for a total transaction of $500,207.07. Following the completion of the sale, the insider now directly owns 5,514 shares in the company, valued at approximately $1,593,380.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the sale, the insider now owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,969 shares of company stock valued at $10,904,774. 0.53% of the stock is currently owned by corporate insiders.

About Eaton

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.