Eaton Co. plc (NYSE:ETN) Position Increased by Fortitude Advisory Group L.L.C.

Fortitude Advisory Group L.L.C. increased its holdings in Eaton Co. plc (NYSE:ETN) by 8.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,453 shares of the industrial products company’s stock after buying an additional 114 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in Eaton were worth $391,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ETN shares. Wall Street Zen raised shares of Eaton from a “hold” rating to a “buy” rating in a research note on Sunday, May 18th. Morgan Stanley reduced their price objective on Eaton from $385.00 to $375.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Barclays increased their price objective on Eaton from $306.00 to $323.00 and gave the stock an “equal weight” rating in a report on Monday, June 9th. BNP Paribas initiated coverage on Eaton in a research note on Thursday, May 15th. They set an “outperform” rating and a $380.00 target price on the stock. Finally, BNP Paribas Exane assumed coverage on Eaton in a research note on Thursday, May 15th. They issued an “outperform” rating and a $380.00 price target for the company. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $368.78.

Eaton Trading Up 4.4%

Shares of NYSE:ETN opened at $337.95 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a market capitalization of $132.24 billion, a price-to-earnings ratio of 35.57, a PEG ratio of 2.64 and a beta of 1.16. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. The company has a 50 day moving average price of $306.54 and a 200 day moving average price of $313.96.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.02. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same period last year, the company posted $2.40 EPS. The company’s revenue was up 7.3% compared to the same quarter last year. On average, research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.23%. Eaton’s dividend payout ratio (DPR) is presently 41.98%.

Insider Buying and Selling

In related news, insider Michael Yelton sold 2,120 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Arnold sold 51,054 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $305.43, for a total value of $15,593,423.22. Following the completion of the transaction, the insider now owns 489,444 shares in the company, valued at $149,490,880.92. This trade represents a 9.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 156,660 shares of company stock valued at $49,622,894. Company insiders own 0.30% of the company’s stock.

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.