Cascade Wealth Advisors Inc Makes New Investment in Eaton Co. plc (NYSE:ETN)

Cascade Wealth Advisors Inc purchased a new stake in shares of Eaton Co. plc (NYSE:ETN) during the 1st quarter, HoldingsChannel reports. The fund purchased 798 shares of the industrial products company’s stock, valued at approximately $254,000.

Several other institutional investors have also modified their holdings of ETN. Fragasso Group Inc. grew its holdings in Eaton by 3.6% in the 1st quarter. Fragasso Group Inc. now owns 1,032 shares of the industrial products company’s stock valued at $323,000 after buying an additional 36 shares during the last quarter. FinTrust Capital Advisors LLC grew its holdings in shares of Eaton by 2.6% during the 4th quarter. FinTrust Capital Advisors LLC now owns 1,481 shares of the industrial products company’s stock worth $357,000 after purchasing an additional 37 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Eaton by 3.3% during the 4th quarter. Meeder Asset Management Inc. now owns 1,315 shares of the industrial products company’s stock worth $317,000 after purchasing an additional 42 shares in the last quarter. Telemus Capital LLC grew its holdings in shares of Eaton by 1.0% during the 4th quarter. Telemus Capital LLC now owns 4,111 shares of the industrial products company’s stock worth $990,000 after purchasing an additional 42 shares in the last quarter. Finally, Amarillo National Bank grew its holdings in shares of Eaton by 3.5% during the 4th quarter. Amarillo National Bank now owns 1,270 shares of the industrial products company’s stock worth $306,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Down 2.3 %

ETN stock opened at $315.23 on Thursday. The company has a market cap of $126.03 billion, a P/E ratio of 37.22, a PEG ratio of 2.70 and a beta of 1.04. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.19. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. The business has a fifty day moving average of $324.95 and a 200-day moving average of $291.47.

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

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were paid a dividend of $0.94 per share. The ex-dividend date was Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.19%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Insider Buying and Selling

In related news, insider Peter Denk sold 2,416 shares of Eaton 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 completion of the sale, the insider now directly owns 5,086 shares of the company’s stock, valued at $1,687,738.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.53% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on ETN. Bank of America lifted their price objective on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. HSBC raised their target price on Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Berenberg Bank raised their target price on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Finally, Argus raised their target price on Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

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.