Cwm LLC Boosts Holdings in Eaton Co. plc (NYSE:ETN)

Cwm LLC lifted its stake in Eaton Co. plc (NYSE:ETN) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,528 shares of the industrial products company’s stock after purchasing an additional 278 shares during the period. Cwm LLC’s holdings in Eaton were worth $3,017,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ETN. DAVENPORT & Co LLC lifted its position in shares of Eaton by 6.6% in the 3rd quarter. DAVENPORT & Co LLC now owns 23,890 shares of the industrial products company’s stock worth $5,096,000 after purchasing an additional 1,480 shares during the period. Avior Wealth Management LLC lifted its position in shares of Eaton by 69.5% in the 3rd quarter. Avior Wealth Management LLC now owns 222 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 91 shares during the period. GHP Investment Advisors Inc. lifted its position in shares of Eaton by 12.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 664 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 75 shares during the period. Meridian Wealth Management LLC increased its stake in shares of Eaton by 17.2% in the 3rd quarter. Meridian Wealth Management LLC now owns 1,379 shares of the industrial products company’s stock worth $294,000 after acquiring an additional 202 shares in the last quarter. Finally, Private Trust Co. NA increased its stake in shares of Eaton by 1.2% in the 3rd quarter. Private Trust Co. NA now owns 7,240 shares of the industrial products company’s stock worth $1,544,000 after acquiring an additional 86 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Performance

Shares of NYSE ETN opened at $318.93 on Thursday. The firm’s 50-day moving average price is $303.06 and its 200-day moving average price is $257.09. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The company has a market cap of $127.41 billion, a PE ratio of 39.77, a PEG ratio of 2.59 and a beta of 1.07. Eaton Co. plc has a 52-week low of $161.12 and a 52-week high of $331.47.

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

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s payout ratio is 46.88%.

Insider Buying and Selling

In related news, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the transaction, the insider now owns 630 shares of the company’s stock, valued at $171,360. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the transaction, the insider now owns 630 shares of the company’s stock, valued at $171,360. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total transaction of $500,207.07. Following the completion of the transaction, the insider now directly owns 5,514 shares in the company, valued at approximately $1,593,380.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,969 shares of company stock valued at $10,904,774. 0.53% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Citigroup increased their price target on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $286.00 to $371.00 in a research note on Friday, April 5th. Wolfe Research reiterated an “underperform” rating and issued a $312.00 price target on shares of Eaton in a research note on Monday, April 8th. Bank of America increased their price target on shares of Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, Evercore ISI raised their price objective on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $295.60.

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.