Eaton Co. plc (NYSE:ETN) Shares Bought by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC lifted its stake in Eaton Co. plc (NYSE:ETN) by 2.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,256 shares of the industrial products company’s stock after buying an additional 92 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Eaton were worth $1,331,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Valley National Advisers Inc. grew its position in Eaton by 5.6% during the first quarter. Valley National Advisers Inc. now owns 682 shares of the industrial products company’s stock valued at $213,000 after buying an additional 36 shares during the period. BluePath Capital Management LLC grew its holdings in shares of Eaton by 23.3% during the first quarter. BluePath Capital Management LLC now owns 1,771 shares of the industrial products company’s stock worth $554,000 after buying an additional 335 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new stake in Eaton during the 1st quarter valued at about $33,000. Leeward Financial Partners LLC lifted its stake in Eaton by 5.8% in the 1st quarter. Leeward Financial Partners LLC now owns 18,395 shares of the industrial products company’s stock worth $5,752,000 after purchasing an additional 1,011 shares in the last quarter. Finally, Valeo Financial Advisors LLC grew its position in shares of Eaton by 9.7% in the first quarter. Valeo Financial Advisors LLC now owns 11,430 shares of the industrial products company’s stock valued at $3,574,000 after purchasing an additional 1,007 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total transaction of $801,725.44. Following the sale, the insider now owns 5,086 shares of the company’s stock, valued at $1,687,738.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.33% of the company’s stock.

Eaton Price Performance

Shares of NYSE:ETN opened at $318.42 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. Eaton Co. plc has a one year low of $191.82 and a one year high of $345.19. The company has a 50-day simple moving average of $325.44 and a 200-day simple moving average of $294.18. The stock has a market capitalization of $127.30 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 2.64 and a beta of 1.02.

Eaton (NYSE:ETN) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.12. The company had revenue of $5.94 billion for 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 company’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the business posted $1.88 EPS. On average, analysts predict that Eaton Co. plc will post 10.55 EPS for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is currently 44.39%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wolfe Research reaffirmed an “underperform” rating and issued a $312.00 target price on shares of Eaton in a research note on Monday, April 8th. HSBC raised their target price on Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. The Goldman Sachs Group raised their price objective on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Berenberg Bank upped their target price on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $250.00 to $300.00 in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $318.06.

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.