Brookstone Capital Management Acquires 185 Shares of Eaton Co. plc (NYSE:ETN)

Brookstone Capital Management boosted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 15.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,375 shares of the industrial products company’s stock after purchasing an additional 185 shares during the quarter. Brookstone Capital Management’s holdings in Eaton were worth $430,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners bought a new position in Eaton during the fourth quarter valued at approximately $25,000. Atwood & Palmer Inc. boosted its position in shares of Eaton by 142.9% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 50 shares during the last quarter. Clear Investment Research LLC purchased a new position in shares of Eaton in the fourth quarter valued at $29,000. Valued Wealth Advisors LLC bought a new stake in Eaton in the fourth quarter worth $35,000. Finally, Chilton Capital Management LLC purchased a new stake in Eaton during the fourth quarter valued at $35,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Performance

Shares of NYSE:ETN opened at $312.19 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. The firm has a market cap of $124.81 billion, a PE ratio of 36.88, a price-to-earnings-growth ratio of 2.64 and a beta of 1.02. The firm’s 50 day simple moving average is $325.35 and its 200-day simple moving average is $293.12. Eaton Co. plc has a one year low of $191.82 and a one year high of $345.19.

Eaton (NYSE:ETN) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same period in the previous year, the company posted $1.88 EPS. Eaton’s revenue was up 8.4% on a year-over-year basis. As a group, equities analysts predict that Eaton Co. plc will post 10.56 EPS for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were given a $0.94 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.20%. Eaton’s payout ratio is presently 44.39%.

Insider Activity

In other Eaton news, insider Peter Denk sold 2,416 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total transaction of $801,725.44. Following the sale, the insider now owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ETN shares. JPMorgan Chase & Co. boosted their target price on shares of Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Berenberg Bank upped their price objective on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Argus raised their price objective on Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Finally, Mizuho restated a “buy” rating and issued a $355.00 price target (up from $340.00) on shares of Eaton in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $318.06.

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.