Invera Wealth Advisors LLC Reduces Position in Eaton Co. plc (NYSE:ETN)

Invera Wealth Advisors LLC trimmed its holdings in Eaton Co. plc (NYSE:ETN) by 7.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,105 shares of the industrial products company’s stock after selling 409 shares during the quarter. Invera Wealth Advisors LLC’s holdings in Eaton were worth $1,577,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tennessee Valley Asset Management Partners purchased a new position in shares of Eaton during the fourth quarter worth approximately $25,000. Atwood & Palmer Inc. grew its stake in Eaton by 142.9% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 50 shares in the last quarter. Clear Investment Research LLC purchased a new position in Eaton during the 4th quarter worth $29,000. Redmont Wealth Advisors LLC bought a new stake in Eaton during the 1st quarter valued at $33,000. Finally, Valued Wealth Advisors LLC bought a new stake in Eaton during the 4th quarter valued at $35,000. 82.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the sale, the insider now owns 29,712 shares in the company, valued at $8,116,427.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the transaction, the insider now owns 69,472 shares in the company, valued at approximately $20,244,140.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the sale, the insider now owns 29,712 shares in the company, valued at approximately $8,116,427.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,969 shares of company stock valued at $10,904,774. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ETN. Berenberg Bank raised their price target on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group raised their target price on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Evercore ISI lifted their price objective on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Finally, Wolfe Research restated an “underperform” rating and set a $312.00 target price on shares of Eaton in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $295.60.

Eaton Stock Up 0.8 %

NYSE ETN traded up $2.54 during trading on Monday, hitting $326.84. The company’s stock had a trading volume of 3,151,497 shares, compared to its average volume of 1,971,578. Eaton Co. plc has a fifty-two week low of $165.24 and a fifty-two week high of $331.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. The company has a market cap of $130.57 billion, a PE ratio of 40.75, a P/E/G ratio of 2.69 and a beta of 1.07. The business’s 50 day simple moving average is $305.81 and its 200-day simple moving average is $259.67.

Eaton (NYSE:ETN) last released its earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The company had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. Eaton’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the business earned $2.06 EPS. On average, equities analysts anticipate that Eaton Co. plc will post 10.28 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 1.15%. Eaton’s dividend payout ratio (DPR) is 46.88%.

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.