Stuart Chaussee & Associates Inc. Grows Stock Position in Eaton Co. plc (NYSE:ETN)

Stuart Chaussee & Associates Inc. raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 18.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 345 shares of the industrial products company’s stock after buying an additional 53 shares during the period. Stuart Chaussee & Associates Inc.’s holdings in Eaton were worth $83,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ETN. Delta Investment Management LLC increased its stake in shares of Eaton by 1.7% in the 4th quarter. Delta Investment Management LLC now owns 4,103 shares of the industrial products company’s stock valued at $988,000 after purchasing an additional 67 shares in the last quarter. Citizens Financial Group Inc. RI increased its stake in shares of Eaton by 164.4% in the 4th quarter. Citizens Financial Group Inc. RI now owns 7,137 shares of the industrial products company’s stock valued at $1,719,000 after purchasing an additional 4,438 shares in the last quarter. Truist Financial Corp increased its stake in shares of Eaton by 3.0% in the 4th quarter. Truist Financial Corp now owns 541,854 shares of the industrial products company’s stock valued at $130,489,000 after purchasing an additional 15,598 shares in the last quarter. Bryn Mawr Capital Management LLC increased its stake in shares of Eaton by 3.9% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 6,293 shares of the industrial products company’s stock valued at $1,515,000 after purchasing an additional 234 shares in the last quarter. Finally, Van Cleef Asset Management Inc increased its stake in shares of Eaton by 2.6% in the 4th quarter. Van Cleef Asset Management Inc now owns 1,988 shares of the industrial products company’s stock valued at $479,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

ETN has been the subject of several recent analyst reports. Bank of America lifted 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. The Goldman Sachs Group boosted their price objective on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Mizuho boosted their price objective on Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Finally, Evercore ISI boosted their price objective on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. One equities 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $295.60.

Eaton Trading Up 2.3 %

NYSE:ETN traded up $7.20 during trading hours on Friday, reaching $324.30. 2,305,692 shares of the stock were exchanged, compared to its average volume of 2,383,996. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average of $304.82 and a two-hundred day moving average of $258.60. Eaton Co. plc has a twelve month low of $162.04 and a twelve month high of $331.47. The company has a market capitalization of $129.56 billion, a price-to-earnings ratio of 40.44, a PEG ratio of 2.69 and a beta of 1.07.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $5.91 billion. During the same period in the prior year, the firm earned $2.06 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, equities analysts predict that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is 46.88%.

Insiders Place Their Bets

In other news, 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 transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, 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 transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $500,207.07. Following the sale, the insider now directly owns 5,514 shares in the company, valued at approximately $1,593,380.58. The disclosure for this sale can be found here. Insiders have sold 38,969 shares of company stock worth $10,904,774 over the last ninety days. 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.