Avior Wealth Management LLC Has $1.02 Million Position in Eaton Corporation, PLC (NYSE:ETN)

Avior Wealth Management LLC grew its holdings in Eaton Corporation, PLC (NYSE:ETN) by 34.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,747 shares of the industrial products company’s stock after purchasing an additional 954 shares during the quarter. Avior Wealth Management LLC’s holdings in Eaton were worth $1,019,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of ETN. Capital A Wealth Management LLC acquired a new position in Eaton in the fourth quarter valued at about $26,000. Flagship Wealth Advisors LLC acquired a new position in Eaton in the fourth quarter valued at about $27,000. Noble Wealth Management PBC acquired a new position in Eaton in the fourth quarter valued at about $30,000. Murphy & Mullick Capital Management Corp acquired a new position in Eaton in the fourth quarter valued at about $33,000. Finally, Vermillion Wealth Management Inc. acquired a new position in Eaton in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In other Eaton news, insider Craig Arnold sold 103,486 shares of the firm’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 value of $33,400,106.50. Following the completion of the transaction, the insider now directly owns 490,208 shares in the company, valued at $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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. This represents a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock worth $49,622,894 over the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Morgan Stanley lowered their price target on Eaton from $385.00 to $375.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Wall Street Zen upgraded Eaton from a “hold” rating to a “buy” rating in a report on Sunday, May 18th. BNP Paribas Exane assumed coverage on Eaton in a report on Thursday, May 15th. They issued an “outperform” rating and a $380.00 price target for the company. Barclays increased their price target on Eaton from $306.00 to $323.00 and gave the stock an “equal weight” rating in a report on Monday, June 9th. Finally, Royal Bank Of Canada increased their price target on Eaton from $336.00 to $356.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $368.78.

Eaton Stock Down 1.1%

NYSE:ETN opened at $331.34 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31. The company has a market cap of $129.65 billion, a PE ratio of 33.43, a PEG ratio of 2.57 and a beta of 1.16. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $379.99. The stock has a 50-day simple moving average of $310.79 and a 200 day simple moving average of $313.22.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.02. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $2.40 earnings per share. On average, sell-side analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.26%. Eaton’s dividend payout ratio is 41.98%.

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.