Stocks: Eaton Co., PLC (ETN) Shares Bought by Brookstone Capital Management

Stocks: Eaton Co., PLC (ETN) Shares Bought by Brookstone Capital Management

Brookstone Capital Management increased its position in Eaton Co., PLC (NYSE:ETN) by 9.1% during the first quarter, Holdings Channel reports. The institutional investor owned 80,750 shares of the industrial products company’s stock after buying an additional 6,713 shares during the period. Brookstone Capital Management’s holdings in Eaton Co., PLC were worth $5,988,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in Eaton Co., PLC by 2.3% in the first quarter. Wells Fargo & Company MN now owns 4,994,761 shares of the industrial products company’s stock worth $370,362,000 after buying an additional 111,208 shares in the last quarter. Greenleaf Trust bought a new stake in Eaton Co., PLC during the first quarter worth approximately $207,000. Wetherby Asset Management Inc. increased its stake in Eaton Co., PLC by 2.6% in the first quarter. Wetherby Asset Management Inc. now owns 11,193 shares of the industrial products company’s stock worth $830,000 after buying an additional 280 shares in the last quarter. Selway Asset Management increased its stake in Eaton Co., PLC by 5.3% in the first quarter. Selway Asset Management now owns 25,725 shares of the industrial products company’s stock worth $1,908,000 after buying an additional 1,300 shares in the last quarter. Finally, Hennessy Advisors Inc. increased its stake in Eaton Co., PLC by 84.9% in the first quarter. Hennessy Advisors Inc. now owns 74,500 shares of the industrial products company’s stock worth $5,524,000 after buying an additional 34,200 shares in the last quarter. 73.55% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Eaton Co., PLC (NYSE:ETN) traded up 0.01% during trading on Friday, reaching $77.04. 173,570 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $74.92 and its 200 day moving average price is $70.16. The firm has a market capitalization of $34.46 billion, a PE ratio of 17.95 and a beta of 1.32. Eaton Co., PLC has a 52 week low of $54.30 and a 52 week high of $79.31.

Eaton Co., PLC (NYSE:ETN) last announced its earnings results on Tuesday, May 2nd. The industrial products company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.87 by $0.09. Eaton Co., PLC had a net margin of 9.73% and a return on equity of 12.56%. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same period last year, the company posted $0.88 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. Analysts predict that Eaton Co., PLC will post $4.64 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 19th. Shareholders of record on Friday, May 5th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Wednesday, May 3rd. Eaton Co., PLC’s payout ratio is 54.03%.

A number of analysts recently commented on the stock. Zacks Investment Research raised shares of Eaton Co., PLC from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Friday. Barclays PLC set a $81.00 price objective on shares of Eaton Co., PLC and gave the stock a “hold” rating in a report on Tuesday, May 2nd. Jefferies Group LLC reissued a “hold” rating and set a $75.00 price objective on shares of Eaton Co., PLC in a report on Tuesday, May 2nd. Longbow Research raised shares of Eaton Co., PLC from a “neutral” rating to a “buy” rating and set a $88.00 price objective on the stock in a report on Tuesday, April 4th. Finally, Citigroup Inc boosted their price objective on shares of Eaton Co., PLC from $80.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, April 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Eaton Co., PLC has a consensus rating of “Hold” and a consensus price target of $76.15.

In other Eaton Co., PLC news, Director Deborah L. Mccoy sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $72.19, for a total value of $360,950.00. Following the completion of the transaction, the director now directly owns 39,936 shares in the company, valued at $2,882,979.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Thomas E. Moran sold 3,470 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $72.13, for a total transaction of $250,291.10. Following the completion of the transaction, the senior vice president now owns 10,668 shares of the company’s stock, valued at $769,482.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,504 shares of company stock valued at $2,748,068. Corporate insiders own 0.80% of the company’s stock.

Eaton Co., PLC Company Profile

Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.

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