Avior Wealth Management LLC Has $226,000 Holdings in Eaton Co. plc (NYSE:ETN)

Avior Wealth Management LLC lifted its position in Eaton Co. plc (NYSE:ETN) by 323.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 939 shares of the industrial products company’s stock after purchasing an additional 717 shares during the quarter. Avior Wealth Management LLC’s holdings in Eaton were worth $226,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ETN. FMR LLC raised its stake in shares of Eaton by 36.0% in the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after purchasing an additional 5,270,331 shares in the last quarter. Norges Bank acquired a new position in shares of Eaton in the fourth quarter valued at $798,119,000. Moneta Group Investment Advisors LLC raised its stake in shares of Eaton by 122,471.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,619,350 shares of the industrial products company’s stock valued at $411,107,000 after purchasing an additional 2,617,213 shares in the last quarter. Morgan Stanley raised its stake in shares of Eaton by 26.2% in the fourth quarter. Morgan Stanley now owns 12,542,343 shares of the industrial products company’s stock valued at $1,968,521,000 after purchasing an additional 2,602,246 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in Eaton during the third quarter worth $340,500,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Eaton

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the transaction, the insider now owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the transaction, the insider now owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the transaction, the insider now directly owns 69,472 shares in the company, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. Insiders have sold a total of 38,969 shares of company stock worth $10,904,774 over the last 90 days. Insiders own 0.53% of the company’s stock.

Eaton Price Performance

Eaton stock opened at $303.22 on Friday. The business’s 50-day simple moving average is $300.70 and its 200 day simple moving average is $254.56. The stock has a market cap of $121.14 billion, a price-to-earnings ratio of 37.81, a P/E/G ratio of 2.57 and a beta of 1.07. Eaton Co. plc has a 12-month low of $161.12 and a 12-month high of $331.47. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.08. The business had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.06 earnings per share. As a group, research analysts anticipate that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 11th were issued a $0.94 dividend. This is a boost from Eaton’s previous quarterly dividend of $0.86. The ex-dividend date was Friday, March 8th. This represents a $3.76 annualized dividend and a yield of 1.24%. Eaton’s dividend payout ratio (DPR) is currently 46.88%.

Wall Street Analysts Forecast Growth

ETN has been the subject of several recent analyst reports. Evercore ISI increased their price objective on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Royal Bank of Canada upgraded Eaton from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $286.00 to $371.00 in a research note on Friday, April 5th. Mizuho increased their price objective on Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Wolfe Research reiterated an “underperform” rating and set a $312.00 price objective on shares of Eaton in a research note on Monday, April 8th. Finally, Bank of America increased their price objective on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $295.60.

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.