Chatham Capital Group Inc. Invests $203,000 in Eaton Co. plc (NYSE:ETN)

Chatham Capital Group Inc. purchased a new position in shares of Eaton Co. plc (NYSE:ETN) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 650 shares of the industrial products company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Fragasso Group Inc. grew its holdings in Eaton by 3.6% in the first quarter. Fragasso Group Inc. now owns 1,032 shares of the industrial products company’s stock valued at $323,000 after purchasing an additional 36 shares during the period. FinTrust Capital Advisors LLC boosted its stake in shares of Eaton by 2.6% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,481 shares of the industrial products company’s stock worth $357,000 after acquiring an additional 37 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Eaton by 3.3% in the fourth quarter. Meeder Asset Management Inc. now owns 1,315 shares of the industrial products company’s stock worth $317,000 after acquiring an additional 42 shares during the last quarter. Telemus Capital LLC boosted its stake in shares of Eaton by 1.0% in the fourth quarter. Telemus Capital LLC now owns 4,111 shares of the industrial products company’s stock worth $990,000 after acquiring an additional 42 shares during the last quarter. Finally, Amarillo National Bank boosted its stake in shares of Eaton by 3.5% in the fourth quarter. Amarillo National Bank now owns 1,270 shares of the industrial products company’s stock worth $306,000 after acquiring an additional 43 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In related news, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the sale, the insider now owns 5,086 shares in the company, valued at approximately $1,687,738.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Berenberg Bank lifted their price target on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Bank of America lifted their price target on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. JPMorgan Chase & Co. boosted their price objective on Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group boosted their price objective on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Finally, Wolfe Research reissued an “underperform” rating and set a $312.00 price objective on shares of Eaton in a research note on Monday, April 8th. 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, Eaton has an average rating of “Moderate Buy” and an average price target of $318.06.

Eaton Price Performance

NYSE:ETN opened at $313.55 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $125.36 billion, a P/E ratio of 37.02, a P/E/G ratio of 2.64 and a beta of 1.02. Eaton Co. plc has a 52 week low of $191.82 and a 52 week high of $345.19. The stock’s fifty day moving average is $325.35 and its two-hundred day moving average is $293.12.

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

Eaton Dividend Announcement

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

Eaton Company 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.