Hennion & Walsh Asset Management Inc. Has $453,000 Holdings in Eaton Co. plc (NYSE:ETN)

Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 36.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,450 shares of the industrial products company’s stock after buying an additional 384 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Eaton were worth $453,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Tennessee Valley Asset Management Partners bought a new stake in shares of Eaton during the 4th quarter valued at $25,000. Atwood & Palmer Inc. increased its holdings in Eaton by 142.9% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 50 shares during the last quarter. Clear Investment Research LLC acquired a new position in Eaton in the fourth quarter valued at about $29,000. Valued Wealth Advisors LLC bought a new position in Eaton during the fourth quarter worth about $35,000. Finally, Chilton Capital Management LLC acquired a new position in shares of Eaton during the 4th quarter worth about $35,000. 82.97% of the stock is owned by institutional investors.

Eaton Trading Up 1.6 %

Eaton stock opened at $318.42 on Thursday. The company has a market cap of $127.30 billion, a price-to-earnings ratio of 37.65, a P/E/G ratio of 2.64 and a beta of 1.02. The firm has a 50-day moving average of $325.44 and a 200-day moving average of $294.18. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05. Eaton Co. plc has a one year low of $191.82 and a one year high of $345.19.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The firm had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the prior year, the firm posted $1.88 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities analysts expect that Eaton Co. plc will post 10.55 earnings per share for the current fiscal year.

Eaton Announces Dividend

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

Insider Activity

In related news, insider Peter Denk sold 2,416 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total value of $801,725.44. Following the completion of the sale, the insider now directly owns 5,086 shares in the company, valued at approximately $1,687,738.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ETN. Berenberg Bank lifted their price objective on shares of Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Raymond James began coverage on shares of Eaton in a report on Friday, June 28th. They issued an “outperform” rating and a $375.00 price target for the company. Wolfe Research reaffirmed an “underperform” rating and set a $312.00 price objective on shares of Eaton in a research note on Monday, April 8th. Bank of America boosted their target price on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $286.00 to $371.00 in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $318.06.

Eaton 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.