295 Shares in Eaton Co. plc (NYSE:ETN) Purchased by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in Eaton Co. plc (NYSE:ETN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 295 shares of the industrial products company’s stock, valued at approximately $92,000.

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

Insider Buying and Selling

In other Eaton 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 transaction, the insider now directly owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.33% of the company’s stock.

Eaton Stock Performance

ETN opened at $313.28 on Wednesday. The firm’s 50-day moving average price is $325.44 and its 200-day moving average price is $293.64. The company has a market cap of $125.25 billion, a P/E ratio of 36.99, a price-to-earnings-growth ratio of 2.64 and a beta of 1.02. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. Eaton Co. plc has a 52-week low of $191.82 and a 52-week high of $345.19.

Eaton (NYSE:ETN) last posted its quarterly 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 net margin of 14.38% and a return on equity of 20.69%. During the same quarter last year, the company posted $1.88 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities analysts anticipate that Eaton Co. plc will post 10.55 EPS for the current fiscal year.

Eaton Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on ETN. Wolfe Research restated an “underperform” rating and issued a $312.00 target price on shares of Eaton in a research note on Monday, April 8th. Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $286.00 to $371.00 in a research report on Friday, April 5th. Mizuho reissued a “buy” rating and set a $355.00 price target (up previously from $340.00) on shares of Eaton in a research report on Wednesday, May 1st. The Goldman Sachs Group lifted their price objective on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, Bank of America raised their target price on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $318.06.

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.