Tritonpoint Wealth LLC Purchases 39 Shares of Eaton Co. plc (NYSE:ETN)

Tritonpoint Wealth LLC lifted its position in Eaton Co. plc (NYSE:ETN) by 3.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,038 shares of the industrial products company’s stock after buying an additional 39 shares during the period. Tritonpoint Wealth LLC’s holdings in Eaton were worth $282,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ETN. Brighton Jones LLC lifted its stake in shares of Eaton by 1.4% in the fourth quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company’s stock worth $1,109,000 after buying an additional 45 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Eaton by 17.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company’s stock worth $303,000 after buying an additional 136 shares in the last quarter. Van ECK Associates Corp bought a new position in shares of Eaton in the fourth quarter worth approximately $22,022,000. Valeo Financial Advisors LLC lifted its position in Eaton by 2.5% during the fourth quarter. Valeo Financial Advisors LLC now owns 11,537 shares of the industrial products company’s stock valued at $3,829,000 after purchasing an additional 280 shares during the period. Finally, Bank Pictet & Cie Europe AG bought a new position in Eaton during the fourth quarter valued at approximately $42,839,000. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Jefferies Financial Group lowered their price objective on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Wall Street Zen upgraded shares of Eaton from a “hold” rating to a “buy” rating in a research report on Sunday, May 18th. BNP Paribas Exane assumed coverage on shares of Eaton in a research report on Thursday, May 15th. They set an “outperform” rating and a $380.00 price objective on the stock. Evercore ISI increased their price objective on shares of Eaton from $326.00 to $349.00 and gave the company an “in-line” rating in a research report on Monday, May 19th. Finally, Barclays increased their price target on shares of Eaton from $306.00 to $323.00 and gave the stock an “equal weight” rating in a research report on Monday, June 9th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $368.78.

Insider Buying and Selling at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider now directly owns 3,382 shares in the company, valued at $1,004,014.34. The trade was a 38.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Craig Arnold sold 51,054 shares of the company’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the transaction, the insider now owns 489,444 shares in the company, valued at $149,490,880.92. The trade was a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 156,660 shares of company stock worth $49,622,894. Insiders own 0.30% of the company’s stock.

Eaton Stock Down 2.1%

Shares of ETN stock opened at $323.26 on Friday. The company has a market capitalization of $126.49 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 2.64 and a beta of 1.16. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The company’s fifty day moving average price is $304.79 and its 200-day moving average price is $314.63. 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 (NYSE:ETN) last announced its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 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 the consensus estimate of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $2.40 EPS. Sell-side analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently declared 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 of this dividend was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.29%. Eaton’s dividend payout ratio is currently 41.98%.

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.