Wealthcare Advisory Partners LLC Boosts Holdings in Eaton Co. plc (NYSE:ETN)

Wealthcare Advisory Partners LLC grew its position in shares of Eaton Co. plc (NYSE:ETN) by 2.5% in the first quarter, Holdings Channel reports. The firm owned 5,800 shares of the industrial products company’s stock after purchasing an additional 139 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Eaton were worth $1,577,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Capital A Wealth Management LLC purchased a new position in Eaton during the fourth quarter worth about $26,000. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton during the 4th quarter valued at about $27,000. Noble Wealth Management PBC purchased a new position in shares of Eaton during the fourth quarter worth about $30,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Eaton in the fourth quarter worth approximately $33,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in Eaton in the fourth quarter valued at approximately $33,000. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other Eaton news, insider Craig Arnold sold 103,486 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the transaction, the insider now owns 490,208 shares in the company, valued at approximately $158,214,632. This represents a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Yelton sold 2,120 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the transaction, the insider now owns 3,382 shares of the company’s stock, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 156,660 shares of company stock valued at $49,622,894. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price objective on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. KeyCorp upped their target price on Eaton from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Wells Fargo & Company reiterated an “overweight” rating and set a $355.00 price target on shares of Eaton in a research report on Monday, May 5th. BNP Paribas Exane started coverage on shares of Eaton in a research note on Thursday, May 15th. They issued an “outperform” rating and a $380.00 price target for the company. Finally, Morgan Stanley reduced their price objective on Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $368.78.

Eaton Stock Up 0.4%

Shares of NYSE:ETN opened at $325.56 on Thursday. The stock’s 50-day moving average is $301.79 and its 200 day moving average is $315.72. The company has a market cap of $127.39 billion, a PE ratio of 34.27, a P/E/G ratio of 2.64 and a beta of 1.16. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99.

Eaton (NYSE:ETN) last posted its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.02. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.40 earnings per share. Sell-side analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.28%. Eaton’s dividend payout ratio (DPR) is presently 41.98%.

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.