Chatham Capital Group Inc. Has $225,000 Holdings in Eaton Co. plc (NYSE:ETN)

Chatham Capital Group Inc. grew its position in Eaton Co. plc (NYSE:ETN) by 8.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 677 shares of the industrial products company’s stock after purchasing an additional 50 shares during the period. Chatham Capital Group Inc.’s holdings in Eaton were worth $225,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Welch & Forbes LLC increased its position in Eaton by 29.1% in the 4th quarter. Welch & Forbes LLC now owns 3,567 shares of the industrial products company’s stock worth $1,184,000 after purchasing an additional 803 shares during the last quarter. Opulen Financial Group LLC acquired a new position in Eaton in the 4th quarter worth about $215,000. Ethos Financial Group LLC increased its position in Eaton by 72.8% in the 4th quarter. Ethos Financial Group LLC now owns 1,493 shares of the industrial products company’s stock worth $498,000 after purchasing an additional 629 shares during the last quarter. Lindbrook Capital LLC increased its position in Eaton by 2.9% in the 4th quarter. Lindbrook Capital LLC now owns 4,611 shares of the industrial products company’s stock worth $1,530,000 after purchasing an additional 129 shares during the last quarter. Finally, Washington Trust Advisors Inc. boosted its stake in shares of Eaton by 6.3% during the 4th quarter. Washington Trust Advisors Inc. now owns 5,048 shares of the industrial products company’s stock worth $1,675,000 after acquiring an additional 298 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.53% of the stock is currently owned by insiders.

Eaton Trading Up 2.8 %

Eaton stock opened at $285.29 on Friday. The business has a 50 day moving average price of $321.13 and a two-hundred day moving average price of $331.71. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The stock has a market cap of $111.83 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period in the previous year, the business posted $2.55 earnings per share. As a group, equities analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a $1.04 dividend. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.46%. Eaton’s dividend payout ratio is 43.79%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ETN shares. Bank of America upped their price target on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Wells Fargo & Company decreased their price target on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research note on Wednesday. Royal Bank of Canada decreased their price target on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research note on Thursday. Melius Research reiterated a “hold” rating and set a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Finally, Evercore ISI decreased their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Eaton has an average rating of “Moderate Buy” and an average target price of $362.58.

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.