Eaton Co. plc (NYSE:ETN) is Phoenix Wealth Advisors’ 6th Largest Position

Phoenix Wealth Advisors decreased its position in Eaton Co. plc (NYSE:ETN) by 4.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 18,817 shares of the industrial products company’s stock after selling 856 shares during the quarter. Eaton accounts for about 3.1% of Phoenix Wealth Advisors’ investment portfolio, making the stock its 6th biggest holding. Phoenix Wealth Advisors’ holdings in Eaton were worth $4,495,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners bought a new position in shares of Eaton during the 4th quarter valued at $25,000. PCA Investment Advisory Services Inc. acquired a new stake in Eaton in the 2nd quarter worth approximately $27,000. Coppell Advisory Solutions Corp. acquired a new position in Eaton during the 4th quarter worth $30,000. Global Trust Asset Management LLC bought a new stake in Eaton during the 3rd quarter valued at approximately $32,000. Finally, Valued Wealth Advisors LLC acquired a new position in Eaton during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Up 0.0 %

NYSE:ETN traded up $0.07 during trading hours on Wednesday, hitting $315.35. The stock had a trading volume of 1,547,499 shares, compared to its average volume of 2,162,500. The business’s 50 day moving average is $298.74 and its 200-day moving average is $253.13. The company has a market cap of $125.98 billion, a price-to-earnings ratio of 39.32, a P/E/G ratio of 2.62 and a beta of 1.07. Eaton Co. plc has a one year low of $161.12 and a one year high of $331.47. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.51.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The business had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the prior year, the company earned $2.06 EPS. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. Sell-side analysts anticipate that Eaton Co. plc will post 10.25 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Friday, March 8th. This is a boost from Eaton’s previous quarterly dividend of $0.86. Eaton’s payout ratio is 46.88%.

Analysts Set New Price Targets

Several research analysts recently commented on ETN shares. Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Bank of America upped their price target on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Berenberg Bank boosted their price objective on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Mizuho upped their target price on shares of Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Evercore ISI lifted their price target on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus target price of $295.60.

Insider Activity at Eaton

In other news, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the completion of the sale, the insider now owns 630 shares of the company’s stock, valued at $171,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Olivier Leonetti sold 4,461 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the completion of the transaction, the insider now directly owns 630 shares of the company’s stock, valued at $171,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the transaction, the insider now directly owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The disclosure for this sale can be found here. In the last three months, insiders sold 38,969 shares of company stock worth $10,904,774. 0.33% of the stock is owned by company insiders.

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.