Newbridge Financial Services Group Inc. Grows Position in Eaton Co. plc (NYSE:ETN)

Newbridge Financial Services Group Inc. raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 232.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 273 shares of the industrial products company’s stock after acquiring an additional 191 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Eaton were worth $66,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Tennessee Valley Asset Management Partners purchased a new position in shares of Eaton during the 4th quarter worth $25,000. Clear Investment Research LLC bought a new position in shares of Eaton during the 4th quarter valued at approximately $29,000. Valued Wealth Advisors LLC bought a new stake in Eaton during the 4th quarter worth approximately $35,000. Chilton Capital Management LLC purchased a new position in Eaton during the fourth quarter valued at approximately $35,000. Finally, Frazier Financial Advisors LLC bought a new position in shares of Eaton in the fourth quarter worth approximately $41,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Royal Bank of Canada upgraded Eaton from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $286.00 to $371.00 in a research note on Friday, April 5th. The Goldman Sachs Group upped their target price 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. Evercore ISI boosted their price target on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Wolfe Research reiterated an “underperform” rating and set a $312.00 target price on shares of Eaton in a research report on Monday, April 8th. Finally, Argus increased their target price on Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $314.27.

Eaton Stock Down 0.1 %

ETN stock traded down $0.39 on Tuesday, hitting $324.94. 261,897 shares of the company’s stock were exchanged, compared to its average volume of 2,007,415. The firm has a 50 day moving average price of $323.98 and a two-hundred day moving average price of $287.44. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. Eaton Co. plc has a 12-month low of $189.26 and a 12-month high of $345.19. The stock has a market cap of $129.91 billion, a P/E ratio of 38.42, a price-to-earnings-growth ratio of 2.67 and a beta of 1.04.

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

Eaton Dividend Announcement

The firm also recently declared 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 yield of 1.16%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction dated Wednesday, May 8th. The stock was 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 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 accessible through this link. Company insiders own 0.33% of the company’s stock.

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.