RB Capital Management LLC purchased a new position in shares of Eaton Co. PLC (NYSE:ETN) in the first quarter, Holdings Channel reports. The fund purchased 2,567 shares of the industrial products company’s stock, valued at approximately $207,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Princeton Global Asset Management LLC acquired a new position in Eaton during the fourth quarter valued at approximately $317,000. Suntrust Banks Inc. grew its holdings in Eaton by 5.1% during the fourth quarter. Suntrust Banks Inc. now owns 182,110 shares of the industrial products company’s stock valued at $12,504,000 after purchasing an additional 8,900 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Eaton during the fourth quarter valued at approximately $589,000. Wells Trecaso Financial Group LLC grew its holdings in Eaton by 1.0% during the first quarter. Wells Trecaso Financial Group LLC now owns 56,523 shares of the industrial products company’s stock valued at $4,553,000 after purchasing an additional 552 shares during the period. Finally, Legal & General Group Plc grew its holdings in Eaton by 7.9% during the fourth quarter. Legal & General Group Plc now owns 2,574,900 shares of the industrial products company’s stock valued at $176,771,000 after purchasing an additional 188,259 shares during the period. 80.07% of the stock is owned by institutional investors and hedge funds.
In related news, insider Richard H. Fearon sold 1,335 shares of the stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $80.19, for a total transaction of $107,053.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dorothy C. Thompson bought 1,655 shares of Eaton stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average price of $78.54 per share, with a total value of $129,983.70. The disclosure for this purchase can be found here. Insiders have sold 30,589 shares of company stock valued at $2,465,553 in the last 90 days. 0.70% of the stock is currently owned by corporate insiders.
Eaton stock opened at $78.75 on Monday. The company has a market capitalization of $33.32 billion, a PE ratio of 14.61, a P/E/G ratio of 1.53 and a beta of 1.47. Eaton Co. PLC has a twelve month low of $64.46 and a twelve month high of $89.46. The company has a quick ratio of 0.92, a current ratio of 1.47 and a debt-to-equity ratio of 0.42.
Eaton (NYSE:ETN) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.01. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.38 billion. Eaton had a net margin of 10.06% and a return on equity of 14.56%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.10 earnings per share. As a group, equities research analysts predict that Eaton Co. PLC will post 5.89 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 3rd were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Thursday, May 2nd. Eaton’s payout ratio is 52.69%.
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Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
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