Silver Oak Securities Incorporated Buys 1,387 Shares of Eaton Co. plc (NYSE:ETN)

Silver Oak Securities Incorporated grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 371.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,760 shares of the industrial products company’s stock after purchasing an additional 1,387 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Eaton were worth $424,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Ritholtz Wealth Management grew its holdings in Eaton by 5.1% during the fourth quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock worth $1,379,000 after purchasing an additional 277 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Eaton by 30.5% during the 4th quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock worth $8,205,000 after acquiring an additional 7,964 shares during the last quarter. Chicago Capital LLC bought a new stake in Eaton in the 4th quarter valued at $2,958,000. Neo Ivy Capital Management acquired a new stake in Eaton during the 3rd quarter valued at $479,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its position in Eaton by 13.6% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,458 shares of the industrial products company’s stock worth $351,000 after purchasing an additional 174 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the sale, the insider now owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the sale, the insider now owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the transaction, the insider now owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,969 shares of company stock valued at $10,904,774. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ETN shares. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $286.00 to $371.00 in a research note on Friday, April 5th. Wolfe Research restated an “underperform” rating and set a $312.00 target price on shares of Eaton in a research note on Monday, April 8th. Berenberg Bank raised their target price on shares of Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Evercore ISI raised their target price on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Finally, UBS Group raised their target price on shares of Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Eaton has an average rating of “Moderate Buy” and a consensus price target of $295.60.

Eaton Trading Down 2.5 %

Shares of NYSE:ETN opened at $318.36 on Wednesday. The company has a market capitalization of $127.18 billion, a P/E ratio of 39.70, a P/E/G ratio of 2.69 and a beta of 1.07. Eaton Co. plc has a 1 year low of $165.24 and a 1 year high of $333.05. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. The business’s 50 day simple moving average is $306.65 and its 200 day simple moving average is $260.44.

Eaton (NYSE:ETN) last issued its quarterly 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. The business had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.06 earnings per share. On average, research analysts anticipate that Eaton Co. plc will post 10.28 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders 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 1.18%. The ex-dividend date is Friday, May 3rd. Eaton’s dividend payout ratio 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.