Procyon Advisors LLC Has $1.62 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Procyon Advisors LLC increased its position in shares of Eaton Co. plc (NYSE:ETN) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,884 shares of the industrial products company’s stock after acquiring an additional 70 shares during the quarter. Procyon Advisors LLC’s holdings in Eaton were worth $1,621,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Strategic Wealth Partners Ltd. raised its holdings in Eaton by 3.0% during the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after acquiring an additional 30 shares in the last quarter. Fairfield Financial Advisors LTD increased its position in shares of Eaton by 16.2% during the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 30 shares during the last quarter. Westmount Partners LLC raised its stake in shares of Eaton by 3.1% during the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 30 shares in the last quarter. Signal Advisors Wealth LLC grew its stake in shares of Eaton by 3.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after buying an additional 30 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Eaton by 2.1% during the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock worth $513,000 after buying an additional 32 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In related news, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 of the company’s stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,981 shares of company stock valued at $27,660,117. 0.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on ETN shares. Jefferies Financial Group increased their price target on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Mizuho lifted their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. UBS Group assumed coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective on the stock. Bank of America lifted their target price on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and raised their price target for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and a consensus target price of $368.89.

Eaton Stock Up 0.4 %

NYSE ETN opened at $346.54 on Friday. The company has a market cap of $136.95 billion, a price-to-earnings ratio of 36.87, a PEG ratio of 2.27 and a beta of 1.06. Eaton Co. plc has a 1-year low of $236.20 and a 1-year high of $379.99. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average of $354.73 and a 200-day moving average of $329.53.

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

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors 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 yield of 1.09%. Eaton’s dividend payout ratio (DPR) is 40.00%.

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.