Spring Capital Management LLC Has $10.69 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Spring Capital Management LLC lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,212 shares of the industrial products company’s stock after purchasing an additional 793 shares during the quarter. Eaton accounts for 6.4% of Spring Capital Management LLC’s holdings, making the stock its 2nd largest position. Spring Capital Management LLC’s holdings in Eaton were worth $10,690,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its position in shares of Eaton by 2.0% in the fourth quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company’s stock worth $544,000 after purchasing an additional 32 shares during the period. InTrack Investment Management Inc increased its holdings in Eaton by 52.2% in the 4th quarter. InTrack Investment Management Inc now owns 6,717 shares of the industrial products company’s stock valued at $2,285,000 after buying an additional 2,305 shares during the period. Dakota Community Bank & Trust NA raised its position in shares of Eaton by 29.0% in the 4th quarter. Dakota Community Bank & Trust NA now owns 511 shares of the industrial products company’s stock valued at $170,000 after buying an additional 115 shares in the last quarter. Arthur M. Cohen & Associates LLC lifted its holdings in shares of Eaton by 7.2% during the 4th quarter. Arthur M. Cohen & Associates LLC now owns 5,859 shares of the industrial products company’s stock worth $1,944,000 after acquiring an additional 396 shares during the period. Finally, Brooklyn Investment Group increased its stake in Eaton by 1.3% in the fourth quarter. Brooklyn Investment Group now owns 4,141 shares of the industrial products company’s stock valued at $1,374,000 after acquiring an additional 54 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ETN has been the topic of a number of research analyst reports. Royal Bank of Canada raised their target price on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Mizuho lifted their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group increased their target price on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. UBS Group assumed coverage on shares of Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target on the stock. Finally, Bank of America increased their price objective on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $368.89.

Eaton Stock Performance

Shares of Eaton stock opened at $346.54 on Friday. The business has a 50-day simple moving average of $354.73 and a 200 day simple moving average of $329.53. The firm has a market capitalization of $136.95 billion, a price-to-earnings ratio of 36.87, a PEG ratio of 2.27 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 one year low of $236.20 and a one year high of $379.99.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period in the prior year, the firm earned $2.47 earnings per share. Eaton’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, research analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Insider Buying and Selling

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 sale, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. 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 Eaton stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now directly owns 506,360 shares in the company, 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. Insiders have sold 76,981 shares of company stock worth $27,660,117 in the last quarter. Insiders own 0.33% of the company’s stock.

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.