GAMMA Investing LLC Invests $1.47 Million in Eaton Co. plc (NYSE:ETN)

GAMMA Investing LLC acquired a new position in Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,971 shares of the industrial products company’s stock, valued at approximately $1,469,000.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wolfe Research reissued an “underperform” rating and set a $312.00 price objective on shares of Eaton in a report on Monday, April 8th. Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $250.00 to $300.00 in a report on Tuesday, April 2nd. Mizuho increased their price objective on shares of Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Berenberg Bank increased their price target on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, The Goldman Sachs Group increased their price target on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $295.60.

Insider Transactions at Eaton

In other news, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the transaction, the insider now directly owns 630 shares of the company’s stock, valued at $171,360. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the transaction, the insider now directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the transaction, the insider now directly owns 630 shares in the company, valued at $171,360. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,969 shares of company stock valued at $10,904,774. 0.33% of the stock is currently owned by company insiders.

Eaton Trading Up 1.6 %

Eaton stock traded up $4.81 during midday trading on Tuesday, reaching $312.90. The stock had a trading volume of 2,781,131 shares, compared to its average volume of 1,925,753. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. Eaton Co. plc has a 52-week low of $161.12 and a 52-week high of $331.47. The firm has a market cap of $125.00 billion, a price-to-earnings ratio of 38.43, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. The company has a fifty day moving average of $301.39 and a 200 day moving average of $255.94.

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

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.20%. Eaton’s dividend payout ratio (DPR) is presently 46.88%.

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.