Argentarii LLC Takes $1.67 Million Position in Eaton Co. plc (NYSE:ETN)

Argentarii LLC bought a new stake in Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,033 shares of the industrial products company’s stock, valued at approximately $1,670,000. Eaton comprises 0.8% of Argentarii LLC’s investment portfolio, making the stock its 29th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in ETN. Noble Wealth Management PBC bought a new stake in shares of Eaton in the fourth quarter valued at approximately $30,000. Horizon Bancorp Inc. IN boosted its stake in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares during the period. Morse Asset Management Inc bought a new stake in shares of Eaton in the third quarter valued at approximately $33,000. Activest Wealth Management boosted its stake in shares of Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after buying an additional 87 shares during the period. Finally, Hager Investment Management Services LLC bought a new stake in shares of Eaton in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the subject of several recent research reports. Citigroup cut their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Melius Research restated a “hold” rating and set a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Evercore ISI cut their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company cut their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, UBS Group started coverage on Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $362.58.

Eaton Stock Performance

NYSE ETN opened at $285.29 on Friday. The company has a market capitalization of $111.83 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The stock has a fifty day simple moving average of $321.13 and a 200 day simple moving average of $331.96. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the prior year, the company posted $2.55 earnings per share. Sell-side analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a dividend of $1.04 per share. This is an increase from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Monday, March 10th. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

Insiders Place Their Bets

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the sale, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.53% 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.