Citizens Financial Group Inc. RI Purchases 4,438 Shares of Eaton Co. plc (NYSE:ETN)

Citizens Financial Group Inc. RI increased its position in Eaton Co. plc (NYSE:ETN) by 164.4% in the 4th quarter, Holdings Channel reports. The firm owned 7,137 shares of the industrial products company’s stock after buying an additional 4,438 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Eaton were worth $1,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ritholtz Wealth Management lifted its position in Eaton by 5.1% in the fourth quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock worth $1,379,000 after purchasing an additional 277 shares during the period. Pacer Advisors Inc. raised its stake in Eaton by 30.5% during the fourth quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock worth $8,205,000 after acquiring an additional 7,964 shares in the last quarter. Chicago Capital LLC acquired a new position in Eaton during the fourth quarter worth $2,958,000. Neo Ivy Capital Management acquired a new position in Eaton during the third quarter worth $479,000. Finally, Patriot Financial Group Insurance Agency LLC raised its stake in Eaton by 13.6% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,458 shares of the industrial products company’s stock worth $351,000 after acquiring an additional 174 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Eaton news, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, the insider now owns 5,514 shares in the company, valued at $1,593,380.58. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Eaton news, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, the insider now owns 5,514 shares in the company, valued at $1,593,380.58. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the transaction, the insider now owns 69,472 shares in the company, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. Insiders sold a total of 38,969 shares of company stock worth $10,904,774 over the last three months. 0.53% of the stock is currently owned by company insiders.

Eaton Trading Up 2.3 %

ETN stock traded up $7.20 during midday trading on Friday, reaching $324.30. The stock had a trading volume of 2,305,692 shares, compared to its average volume of 2,383,996. The business has a fifty day simple moving average of $304.82 and a two-hundred day simple moving average of $258.28. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The firm has a market cap of $129.56 billion, a price-to-earnings ratio of 40.42, a PEG ratio of 2.63 and a beta of 1.07. Eaton Co. plc has a twelve month low of $162.04 and a twelve month high of $331.47.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The firm had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period last year, the company earned $2.06 earnings per share. As a group, research analysts expect that Eaton Co. plc will post 10.28 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a $0.94 dividend. The ex-dividend date is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 1.16%. Eaton’s payout ratio is 46.88%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. UBS Group increased their price objective on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Citigroup increased their price objective on Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Bank of America increased their price objective on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Wolfe Research restated an “underperform” rating and issued a $312.00 target price on shares of Eaton in a research note on Monday, April 8th. Finally, Evercore ISI raised their target price on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus price target of $295.60.

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.