Paragon Capital Management LLC Takes Position in Eaton Co. PLC (ETN)

Paragon Capital Management LLC acquired a new stake in Eaton Co. PLC (NYSE:ETN) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 400 shares of the industrial products company’s stock, valued at approximately $32,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Highwater Wealth Management LLC acquired a new position in Eaton in the 4th quarter valued at $26,000. Athena Capital Advisors LLC acquired a new position in Eaton in the 4th quarter valued at $27,000. Bremer Trust National Association acquired a new position in Eaton in the 4th quarter valued at $29,000. Legacy Financial Advisors Inc. raised its holdings in Eaton by 53.9% in the 4th quarter. Legacy Financial Advisors Inc. now owns 454 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 159 shares in the last quarter. Finally, Berman Capital Advisors LLC acquired a new position in shares of Eaton during the 4th quarter worth $32,000. 78.14% of the stock is owned by hedge funds and other institutional investors.

In other Eaton news, insider Curtis J. Hutchins sold 37,625 shares of the company’s stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $76.02, for a total value of $2,860,252.50. Following the sale, the insider now owns 15,872 shares in the company, valued at approximately $1,206,589.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Richard H. Fearon sold 1,335 shares of the company’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $80.19, for a total value of $107,053.65. The disclosure for this sale can be found here. Insiders have sold a total of 73,214 shares of company stock worth $5,709,455 in the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

ETN has been the subject of a number of research analyst reports. Credit Suisse Group reissued an “outperform” rating and set a $80.00 price target (down previously from $85.00) on shares of Eaton in a report on Thursday, January 3rd. Zacks Investment Research cut Eaton from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Barclays lowered their price target on Eaton from $75.00 to $73.00 and set an “underweight” rating for the company in a report on Monday, January 7th. Vertical Research raised Eaton from a “hold” rating to a “buy” rating in a report on Monday, March 4th. Finally, Robert W. Baird set a $88.00 price target on Eaton and gave the stock a “buy” rating in a report on Friday, January 25th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. Eaton currently has an average rating of “Hold” and a consensus price target of $86.80.

ETN stock traded down $0.27 during midday trading on Monday, reaching $83.61. 841,341 shares of the stock were exchanged, compared to its average volume of 2,586,513. The firm has a market capitalization of $35.20 billion, a P/E ratio of 15.51, a P/E/G ratio of 1.53 and a beta of 1.48. Eaton Co. PLC has a 52 week low of $64.46 and a 52 week high of $89.46. The company has a quick ratio of 0.93, a current ratio of 1.47 and a debt-to-equity ratio of 0.42.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, January 31st. The industrial products company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. The business had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.42 billion. Eaton had a return on equity of 14.06% and a net margin of 9.93%. As a group, equities research analysts expect that Eaton Co. PLC will post 5.86 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Saturday, March 9th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.84 dividend on an annualized basis and a yield of 3.40%. Eaton’s dividend payout ratio is currently 52.69%.

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Eaton Profile

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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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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