Wealth Alliance LLC Purchases 180 Shares of Eaton Corporation, PLC (NYSE:ETN)

Wealth Alliance LLC boosted its stake in Eaton Corporation, PLC (NYSE:ETN) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,457 shares of the industrial products company’s stock after acquiring an additional 180 shares during the period. Wealth Alliance LLC’s holdings in Eaton were worth $2,027,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in shares of Eaton by 0.7% during the 1st quarter. GAMMA Investing LLC now owns 13,219 shares of the industrial products company’s stock worth $3,593,000 after acquiring an additional 96 shares during the period. Bearing Point Capital LLC purchased a new position in shares of Eaton during the 4th quarter valued at about $2,713,000. Brighton Jones LLC raised its holdings in shares of Eaton by 4.9% during the 1st quarter. Brighton Jones LLC now owns 3,505 shares of the industrial products company’s stock valued at $953,000 after buying an additional 164 shares in the last quarter. Kennebec Savings Bank raised its holdings in shares of Eaton by 5.4% during the 1st quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company’s stock valued at $738,000 after buying an additional 139 shares in the last quarter. Finally, American National Bank & Trust grew its position in Eaton by 5.4% during the 1st quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company’s stock worth $855,000 after acquiring an additional 162 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Down 0.5%

Eaton stock opened at $378.89 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. The stock has a market capitalization of $148.26 billion, a price-to-earnings ratio of 38.23, a PEG ratio of 2.86 and a beta of 1.17. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $384.51. The business has a fifty day moving average price of $339.29 and a 200-day moving average price of $314.69.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.02. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The company had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter in the previous year, the firm posted $2.40 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. Equities research analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.10%. Eaton’s dividend payout ratio is presently 41.98%.

Insider Activity

In other news, insider Craig Arnold sold 103,486 shares of the business’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 directly owned 490,208 shares in the company, valued at $158,214,632. The trade was a 17.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the transaction, the insider owned 3,382 shares in the company, 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. In the last 90 days, insiders sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on ETN. Evercore ISI boosted their target price on Eaton from $326.00 to $349.00 and gave the stock an “in-line” rating in a report on Monday, May 19th. 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. Citigroup upped their price objective on Eaton from $351.00 to $420.00 and gave the company a “buy” rating in a research report on Monday, July 14th. The Goldman Sachs Group boosted their price target on Eaton from $345.00 to $382.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Finally, BNP Paribas Exane began coverage on Eaton in a report on Thursday, May 15th. They set an “outperform” rating and a $380.00 price target for the company. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $377.89.

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.