Eaton Co. plc (NYSE:ETN) is Spring Capital Management LLC's 2nd Largest Position

Spring Capital Management LLC grew its position in Eaton Co. plc (NYSE:ETN - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,212 shares of the industrial products company's stock after acquiring an additional 793 shares during the quarter. Eaton comprises about 6.4% of Spring Capital Management LLC's portfolio, making the stock its 2nd largest position. Spring Capital Management LLC's holdings in Eaton were worth $10,690,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Groupama Asset Managment increased its stake in Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company's stock worth $31,000 after purchasing an additional 4,298 shares during the period. Horizon Bancorp Inc. IN grew its holdings in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc purchased a new position in Eaton in the 3rd quarter worth about $33,000. West Financial Advisors LLC purchased a new stake in Eaton in the 3rd quarter valued at about $35,000. Finally, DT Investment Partners LLC purchased a new stake in Eaton in the 3rd quarter valued at about $37,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Jefferies Financial Group lifted their price target on shares of Eaton from $400.00 to $440.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Citigroup dropped their price target on Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. dropped their target price on shares of Eaton from $350.00 to $348.00 and set an "overweight" rating on the stock in a report on Wednesday. Mizuho boosted their price target on shares of Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Finally, Sanford C. Bernstein started coverage on shares of Eaton in a report on Tuesday, November 5th. They set an "outperform" rating and a $382.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $368.89.

Insider Buying and Selling at Eaton

In related news, insider Craig Arnold sold 61,569 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares of the company's stock, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the company's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the transaction, the director now owns 43,203 shares of the company's stock, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,981 shares of company stock worth $27,660,117. Insiders own 0.33% of the company's stock.

Eaton Stock Performance

Shares of NYSE:ETN traded up $1.35 on Friday, hitting $346.54. 2,454,294 shares of the company were exchanged, compared to its average volume of 1,724,943. The firm has a market capitalization of $136.95 billion, a P/E ratio of 36.87, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 1-year low of $236.20 and a 1-year high of $379.99. The stock's 50 day moving average price is $354.32 and its 200 day moving average price is $329.89.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the previous year, the business earned $2.47 EPS. The company's quarterly revenue was up 7.9% compared to the same quarter last year. Sell-side analysts predict that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were issued a dividend of $0.94 per share. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. Eaton's dividend payout ratio (DPR) is presently 40.00%.

About Eaton

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.