HB Wealth Management LLC Has $5.84 Million Stock Holdings in Eaton Corporation, PLC (NYSE:ETN)

HB Wealth Management LLC raised its stake in Eaton Corporation, PLC (NYSE:ETN) by 30.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,486 shares of the industrial products company’s stock after purchasing an additional 4,962 shares during the period. HB Wealth Management LLC’s holdings in Eaton were worth $5,841,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC lifted its position in Eaton by 1.4% during the fourth quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company’s stock worth $1,109,000 after purchasing an additional 45 shares during the period. Revolve Wealth Partners LLC raised its position in shares of Eaton by 17.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company’s stock valued at $303,000 after buying an additional 136 shares in the last quarter. Bank Pictet & Cie Europe AG bought a new stake in shares of Eaton during the 4th quarter worth approximately $42,839,000. New Age Alpha Advisors LLC acquired a new stake in shares of Eaton during the 4th quarter worth approximately $4,148,000. Finally, RiverFront Investment Group LLC increased its stake in Eaton by 44.4% in the fourth quarter. RiverFront Investment Group LLC now owns 1,463 shares of the industrial products company’s stock valued at $486,000 after acquiring an additional 450 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ETN has been the subject of several recent analyst reports. Citigroup upped their target price on Eaton from $351.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Barclays upped their price objective on Eaton from $323.00 to $340.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 9th. Royal Bank Of Canada lifted their target price on Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a research report on Monday, May 5th. Wall Street Zen raised shares of Eaton from a “hold” rating to a “buy” rating in a report on Saturday, July 5th. Finally, Evercore ISI lifted their price target on shares of Eaton from $326.00 to $349.00 and gave the company an “in-line” rating in a report on Monday, May 19th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and a consensus price target of $377.89.

Eaton Price Performance

Shares of NYSE:ETN opened at $392.29 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. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $393.07. The firm has a market cap of $153.50 billion, a PE ratio of 39.59, a price-to-earnings-growth ratio of 2.96 and a beta of 1.17. The firm’s fifty day moving average is $344.57 and its 200-day moving average is $316.02.

Eaton (NYSE:ETN) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.02. Eaton had a return on equity of 23.41% and a net margin of 15.55%. 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 earned $2.40 EPS. Eaton’s revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, August 7th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, August 7th. Eaton’s payout ratio is presently 41.98%.

Insider Buying and Selling

In other news, insider Michael Yelton sold 2,120 shares of the business’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 transaction, the insider owned 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Craig Arnold sold 103,486 shares of the stock in a transaction 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 sale, the insider owned 490,208 shares of the company’s stock, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock valued at $49,622,894 in the last three months. 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.