Kieckhefer Group LLC Takes $66,000 Position in Eaton Co. plc (NYSE:ETN)

Kieckhefer Group LLC bought a new stake in Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 200 shares of the industrial products company’s stock, valued at approximately $66,000.

Several other hedge funds and other institutional investors have also modified their holdings of ETN. Westover Capital Advisors LLC acquired a new position in Eaton in the 2nd quarter valued at approximately $309,000. Parallel Advisors LLC raised its stake in shares of Eaton by 4.9% in the 2nd quarter. Parallel Advisors LLC now owns 7,444 shares of the industrial products company’s stock valued at $2,334,000 after buying an additional 347 shares in the last quarter. Prosperity Consulting Group LLC raised its position in Eaton by 11.3% in the second quarter. Prosperity Consulting Group LLC now owns 2,221 shares of the industrial products company’s stock worth $696,000 after purchasing an additional 225 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in shares of Eaton by 1.7% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 2,053 shares of the industrial products company’s stock worth $644,000 after buying an additional 35 shares during the period. Finally, Lyell Wealth Management LP raised its stake in Eaton by 6.8% during the second quarter. Lyell Wealth Management LP now owns 1,107 shares of the industrial products company’s stock worth $347,000 after acquiring an additional 70 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ETN shares. Royal Bank of Canada lifted their price target on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Jefferies Financial Group increased their price target on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Wells Fargo & Company lowered their price target on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Citigroup boosted their price objective on shares of Eaton from $394.00 to $440.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and lifted their price target for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $369.28.

Insider Activity at Eaton

In other news, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,981 shares of company stock valued at $27,660,117. 0.53% of the stock is owned by insiders.

Eaton Price Performance

ETN traded up $0.14 on Monday, hitting $341.59. 949,759 shares of the stock were exchanged, compared to its average volume of 2,057,271. The business has a 50-day moving average of $355.14 and a two-hundred day moving average of $328.96. The firm has a market capitalization of $135.00 billion, a price-to-earnings ratio of 36.34, a PEG ratio of 2.70 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a 12 month low of $236.04 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the business earned $2.47 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. Sell-side analysts forecast that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were paid a $0.94 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.10%. Eaton’s payout ratio is currently 40.00%.

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.