Aviso Wealth Management Boosts Stake in Eaton Co. plc (NYSE:ETN)

Aviso Wealth Management lifted its holdings in Eaton Co. plc (NYSE:ETN) by 13.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 785 shares of the industrial products company’s stock after buying an additional 93 shares during the period. Aviso Wealth Management’s holdings in Eaton were worth $246,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ETN. Norden Group LLC bought a new position in Eaton in the 1st quarter valued at $2,176,000. Griffin Asset Management Inc. bought a new position in Eaton during the first quarter valued at about $813,000. Focus Financial Network Inc. ADV purchased a new stake in Eaton during the fourth quarter worth about $554,000. IAM Advisory LLC bought a new stake in Eaton in the second quarter worth about $599,000. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Eaton by 19.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock valued at $24,616,000 after acquiring an additional 12,689 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

Shares of NYSE ETN opened at $328.45 on Friday. The firm has a market capitalization of $131.31 billion, a P/E ratio of 38.78, a P/E/G ratio of 2.53 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The stock’s 50-day simple moving average is $301.03 and its two-hundred day simple moving average is $313.73. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.19.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.35 billion. As a group, equities analysts anticipate that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a $0.94 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.14%. Eaton’s payout ratio is currently 44.39%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ETN shares. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Royal Bank of Canada lowered their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Raymond James cut their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Wells Fargo & Company lowered their price target on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Finally, Citigroup initiated coverage on shares of Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective for the company. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus target price of $337.41.

Insider Buying and Selling at Eaton

In other Eaton news, Director Dorothy C. Thompson acquired 2,205 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the transaction, the director now owns 2,205 shares in the company, valued at $662,161.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Dorothy C. Thompson bought 2,205 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Karenann K. Terrell purchased 500 shares of Eaton stock in a transaction that occurred on Wednesday, August 21st. The shares were bought at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the transaction, the director now directly owns 500 shares of the company’s stock, valued at $149,485. The disclosure for this purchase can be found here. Insiders sold 52,511 shares of company stock valued at $15,809,326 in the last quarter. Company insiders own 0.53% of the company’s stock.

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.