Trifecta Capital Advisors LLC Increases Position in Eaton Co. plc (NYSE:ETN)

Trifecta Capital Advisors LLC increased its position in Eaton Co. plc (NYSE:ETN) by 18.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,814 shares of the industrial products company’s stock after acquiring an additional 1,986 shares during the period. Trifecta Capital Advisors LLC’s holdings in Eaton were worth $4,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ETN. Tennessee Valley Asset Management Partners acquired a new stake in Eaton during the 4th quarter worth about $25,000. Atwood & Palmer Inc. raised its position in Eaton by 142.9% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 50 shares in the last quarter. Clear Investment Research LLC acquired a new position in Eaton in the fourth quarter valued at approximately $29,000. Valued Wealth Advisors LLC purchased a new stake in Eaton in the 4th quarter worth approximately $35,000. Finally, Chilton Capital Management LLC acquired a new stake in shares of Eaton during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price target on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Bank of America raised their target price on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, March 18th. JPMorgan Chase & Co. upped their price target on Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. HSBC raised their price objective on Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Finally, Argus upped their target price on Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $318.06.

Insider Buying and Selling at Eaton

In other news, insider Peter Denk sold 2,416 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total transaction of $801,725.44. Following the completion of the sale, the insider now owns 5,086 shares in the company, valued at approximately $1,687,738.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is currently owned by company insiders.

Eaton Price Performance

ETN traded down $0.39 on Friday, reaching $313.55. 2,557,711 shares of the company’s stock were exchanged, compared to its average volume of 2,258,211. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05. The stock’s fifty day moving average price is $325.35 and its 200-day moving average price is $292.34. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.19. The stock has a market cap of $125.36 billion, a PE ratio of 37.02, a P/E/G ratio of 2.63 and a beta of 1.04.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter last year, the business posted $1.88 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. Sell-side analysts expect that Eaton Co. plc will post 10.56 EPS for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Friday, May 3rd. Eaton’s payout ratio is currently 44.39%.

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.