Wealthcare Advisory Partners LLC Buys 1,777 Shares of Eaton Co. plc (NYSE:ETN)

Wealthcare Advisory Partners LLC lifted its position in Eaton Co. plc (NYSE:ETN) by 125.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,189 shares of the industrial products company’s stock after acquiring an additional 1,777 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Eaton were worth $768,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners bought a new stake in shares of Eaton during the 4th quarter worth $25,000. Valued Wealth Advisors LLC bought a new stake in Eaton in the fourth quarter worth about $35,000. Chilton Capital Management LLC bought a new position in shares of Eaton during the 4th quarter valued at approximately $35,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of Eaton during the 3rd quarter worth approximately $39,000. Finally, Fortitude Family Office LLC bought a new stake in shares of Eaton in the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ETN shares. UBS Group lifted their target price on shares of Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. HSBC boosted their target price on shares of Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Argus lifted their price target on Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Royal Bank of Canada raised 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 report on Friday, April 5th. Finally, JPMorgan Chase & Co. lifted their target price on Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and an average target price of $314.27.

Eaton Price Performance

ETN stock opened at $330.40 on Thursday. 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 1 year low of $165.24 and a 1 year high of $333.13. The company has a market cap of $132.09 billion, a P/E ratio of 39.01, a PEG ratio of 2.54 and a beta of 1.06. The firm has a 50-day moving average of $310.41 and a 200 day moving average of $264.55.

Eaton (NYSE:ETN) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.28 by $0.12. The business 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 for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.88 earnings per share. On average, sell-side analysts forecast that Eaton Co. plc will post 10.45 EPS for the current year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is 44.39%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the sale, the insider now directly owns 69,472 shares in the company, valued at approximately $20,244,140.80. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the transaction, the insider now directly owns 630 shares of the company’s stock, valued at approximately $171,360. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the business’s 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 sale, the insider now directly owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,219 shares of company stock worth $5,509,667. Company insiders own 0.33% 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.