Eaton Co. plc (NYSE:ETN) Stock Holdings Lifted by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC boosted its stake in shares of Eaton Co. plc (NYSE:ETN) by 19.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,803 shares of the industrial products company’s stock after purchasing an additional 614 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Eaton were worth $1,189,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ritholtz Wealth Management grew its position in Eaton by 5.1% during the fourth quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock valued at $1,379,000 after purchasing an additional 277 shares in the last quarter. Pinnbrook Capital Management LP acquired a new stake in Eaton in the fourth quarter valued at approximately $15,109,000. Congress Wealth Management LLC DE lifted its stake in Eaton by 8.1% in the fourth quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company’s stock valued at $18,479,000 after acquiring an additional 5,725 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Eaton by 30.5% in the fourth quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock valued at $8,205,000 after acquiring an additional 7,964 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new stake in Eaton in the fourth quarter valued at approximately $1,001,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Trading Down 0.4 %

Shares of Eaton stock opened at $313.94 on Friday. The stock has a fifty day simple moving average of $325.05 and a 200 day simple moving average of $291.63. Eaton Co. plc has a 12-month low of $191.82 and a 12-month high of $345.19. The company has a market capitalization of $125.51 billion, a P/E ratio of 37.06, a price-to-earnings-growth ratio of 2.64 and a beta of 1.04. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. The firm 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 business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.88 EPS. On average, sell-side analysts anticipate that Eaton Co. plc will post 10.56 earnings per share for the current fiscal 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 issued 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 yield of 1.20%. Eaton’s dividend payout ratio (DPR) is 44.39%.

Insider Buying and Selling

In other Eaton news, insider Peter Denk sold 2,416 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the sale, the insider now owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.53% of the stock is currently owned by insiders.

Analyst Ratings Changes

ETN has been the subject of a number of analyst reports. Bank of America lifted their target price on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $286.00 to $371.00 in a research note on Friday, April 5th. Mizuho reiterated a “buy” rating and issued a $355.00 target price (up from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. Wolfe Research restated an “underperform” rating and issued a $312.00 price objective on shares of Eaton in a research note on Monday, April 8th. Finally, Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $318.06.

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.