Ashburton Jersey Ltd purchased a new position in shares of Eaton Co. plc (NYSE:ETN – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 98,812 shares of the industrial products company’s stock, valued at approximately $16,930,000. Eaton accounts for 7.9% of Ashburton Jersey Ltd’s investment portfolio, making the stock its 2nd biggest position.
A number of other hedge funds also recently bought and sold shares of ETN. Oxford Financial Group Ltd. raised its position in shares of Eaton by 0.5% in the fourth quarter. Oxford Financial Group Ltd. now owns 12,339 shares of the industrial products company’s stock valued at $1,937,000 after buying an additional 59 shares during the last quarter. Crawford Investment Counsel Inc. raised its holdings in Eaton by 1.0% in the 1st quarter. Crawford Investment Counsel Inc. now owns 6,186 shares of the industrial products company’s stock valued at $1,060,000 after acquiring an additional 62 shares during the last quarter. Compass Wealth Management LLC lifted its stake in shares of Eaton by 6.2% during the 1st quarter. Compass Wealth Management LLC now owns 1,094 shares of the industrial products company’s stock worth $187,000 after purchasing an additional 64 shares during the period. Motco boosted its holdings in shares of Eaton by 4.4% during the fourth quarter. Motco now owns 1,533 shares of the industrial products company’s stock worth $241,000 after purchasing an additional 65 shares during the last quarter. Finally, Allred Capital Management LLC grew its position in shares of Eaton by 2.6% in the fourth quarter. Allred Capital Management LLC now owns 2,598 shares of the industrial products company’s stock valued at $408,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 81.02% of the company’s stock.
Insider Activity
In related news, insider Thomas B. Okray sold 4,950 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $231.09, for a total value of $1,143,895.50. Following the sale, the insider now directly owns 7,367 shares of the company’s stock, valued at $1,702,440.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Michael Yelton sold 2,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $197.11, for a total value of $394,220.00. Following the completion of the sale, the insider now directly owns 2,096 shares of the company’s stock, valued at $413,142.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas B. Okray sold 4,950 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $231.09, for a total value of $1,143,895.50. Following the transaction, the insider now directly owns 7,367 shares in the company, valued at approximately $1,702,440.03. The disclosure for this sale can be found here. In the last three months, insiders sold 118,650 shares of company stock worth $26,080,611. 0.53% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Eaton Price Performance
Shares of ETN stock opened at $227.90 on Wednesday. The firm has a fifty day simple moving average of $216.20 and a 200-day simple moving average of $189.32. The company has a market capitalization of $90.93 billion, a PE ratio of 33.66, a price-to-earnings-growth ratio of 2.30 and a beta of 1.11. Eaton Co. plc has a twelve month low of $129.85 and a twelve month high of $240.44. The company has a current ratio of 1.53, a quick ratio of 0.99 and a debt-to-equity ratio of 0.49.
Eaton (NYSE:ETN – Get Free Report) last posted its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.10. Eaton had a net margin of 12.29% and a return on equity of 19.06%. The company had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same period in the prior year, the company posted $1.87 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. Equities research analysts anticipate that Eaton Co. plc will post 8.81 earnings per share for the current fiscal year.
Eaton Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 7th were given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Friday, August 4th. Eaton’s payout ratio is 50.81%.
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.
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