Global Trust Asset Management LLC Buys 75 Shares of Eaton Co. plc (NYSE:ETN)

Global Trust Asset Management LLC lifted its stake in Eaton Co. plc (NYSE:ETN) by 37.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 275 shares of the industrial products company’s stock after buying an additional 75 shares during the period. Global Trust Asset Management LLC’s holdings in Eaton were worth $86,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ETN. Northwest Investment Counselors LLC acquired a new position in shares of Eaton in the first quarter valued at $47,000. Murphy Pohlad Asset Management LLC acquired a new stake in Eaton in the 1st quarter valued at $209,000. High Net Worth Advisory Group LLC raised its stake in Eaton by 14.5% during the first quarter. High Net Worth Advisory Group LLC now owns 2,364 shares of the industrial products company’s stock worth $739,000 after acquiring an additional 300 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Eaton during the first quarter valued at $256,000. Finally, Forbes J M & Co. LLP grew its holdings in shares of Eaton by 0.3% in the 1st quarter. Forbes J M & Co. LLP now owns 38,108 shares of the industrial products company’s stock worth $11,916,000 after purchasing an additional 102 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Performance

ETN stock opened at $322.08 on Tuesday. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19. The business’s 50-day moving average price is $324.80 and its two-hundred day moving average price is $290.83. The firm has a market cap of $128.77 billion, a PE ratio of 38.03, a P/E/G ratio of 2.68 and a beta of 1.04. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42.

Eaton (NYSE:ETN) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. The business had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. Eaton’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.88 EPS. As a group, research analysts forecast that Eaton Co. plc will post 10.56 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.17%. Eaton’s dividend payout ratio is currently 44.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Argus boosted their price target on shares of Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. HSBC increased their price target on Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Mizuho reissued a “buy” rating and issued a $355.00 price objective (up previously from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. JPMorgan Chase & Co. increased their target price on Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group upped their price target on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Insider Activity

In related news, insider Peter Denk sold 2,416 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total value of $801,725.44. Following the completion of the transaction, the insider now owns 5,086 shares of the company’s stock, valued at $1,687,738.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.33% of the stock is owned by corporate insiders.

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.