Highland Capital Management LLC Has $6.32 Million Stake in Eaton Co. plc (NYSE:ETN)

Highland Capital Management LLC increased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,243 shares of the industrial products company’s stock after buying an additional 190 shares during the period. Highland Capital Management LLC’s holdings in Eaton were worth $6,320,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. PCA Investment Advisory Services Inc. bought a new stake in Eaton in the second quarter valued at approximately $27,000. Valued Wealth Advisors LLC bought a new stake in shares of Eaton during the fourth quarter worth $35,000. Global Trust Asset Management LLC acquired a new position in Eaton during the third quarter worth $32,000. Cornerstone Planning Group LLC acquired a new position in Eaton during the second quarter worth $36,000. Finally, Authentikos Wealth Advisory LLC acquired a new position in Eaton during the third quarter worth $39,000. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

Eaton stock opened at $314.63 on Thursday. Eaton Co. plc has a 12 month low of $155.38 and a 12 month high of $317.02. The stock’s 50 day moving average is $278.80 and its 200-day moving average is $242.64. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $125.69 billion, a price-to-earnings ratio of 39.23, a PEG ratio of 2.59 and a beta of 1.07.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.47 by $0.08. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The company had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the business earned $2.06 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts expect that Eaton Co. plc will post 10.25 EPS for the current year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 11th will be given a $0.94 dividend. This is an increase from Eaton’s previous quarterly dividend of $0.86. The ex-dividend date is Friday, March 8th. This represents a $3.76 annualized dividend and a dividend yield of 1.20%. Eaton’s dividend payout ratio is presently 46.88%.

Wall Street Analyst Weigh In

Several research analysts recently commented on ETN shares. Evercore ISI increased their target price on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. UBS Group increased their target price on shares of Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Mizuho increased their target price on shares of Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Bank of America lifted their price objective 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. Finally, The Goldman Sachs Group upped their target price on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a report on Friday, March 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and a consensus price target of $274.20.

Insider Activity

In other news, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the transaction, the insider now owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the sale, the insider now directly owns 29,712 shares in the company, valued at $8,116,427.04. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the sale, the insider now owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,969 shares of company stock valued at $10,904,774. 0.53% of the stock is owned by insiders.

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.