Transcend Capital Advisors LLC Purchases 1,484 Shares of Eaton Co. plc (NYSE:ETN)

Transcend Capital Advisors LLC increased its position in shares of Eaton Co. plc (NYSE:ETN) by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,060 shares of the industrial products company’s stock after purchasing an additional 1,484 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Eaton were worth $3,627,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tennessee Valley Asset Management Partners acquired a new position in Eaton during the fourth quarter worth about $25,000. Valued Wealth Advisors LLC acquired a new position in Eaton during the fourth quarter worth about $35,000. Chilton Capital Management LLC acquired a new position in Eaton during the fourth quarter worth about $35,000. Authentikos Wealth Advisory LLC acquired a new position in Eaton during the third quarter worth about $39,000. Finally, Legacy Financial Group LLC acquired a new position in Eaton during the third quarter worth about $43,000. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the sale, the insider now directly owns 630 shares of the company’s stock, valued at approximately $171,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the sale, the insider now directly owns 630 shares of the company’s stock, valued at approximately $171,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Peter Denk sold 1,731 shares of the 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 of the company’s stock, valued at $1,593,380.58. The disclosure for this sale can be found here. Insiders have sold a total of 38,969 shares of company stock worth $10,904,774 in the last ninety days. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ETN shares. Bank of America boosted their target price on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Berenberg Bank upped their price objective on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $286.00 to $371.00 in a research note on Friday, April 5th. Evercore ISI upped their price objective on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Finally, Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $250.00 to $300.00 in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $295.60.

Eaton Stock Up 2.3 %

Shares of ETN traded up $7.20 during trading hours on Friday, reaching $324.30. The stock had a trading volume of 2,305,692 shares, compared to its average volume of 2,383,996. Eaton Co. plc has a 12 month low of $162.04 and a 12 month high of $331.47. The firm has a 50-day simple moving average of $304.82 and a 200 day simple moving average of $258.28. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $129.56 billion, a price-to-earnings ratio of 40.42, a P/E/G ratio of 2.63 and a beta of 1.07.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (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 last year, the business earned $2.06 EPS. Eaton’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities research analysts predict that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s dividend payout ratio is currently 46.88%.

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.