Omnia Family Wealth LLC Buys 60 Shares of Eaton Corporation, PLC (NYSE:ETN)

Omnia Family Wealth LLC lifted its stake in shares of Eaton Corporation, PLC (NYSE:ETN) by 5.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,089 shares of the industrial products company’s stock after acquiring an additional 60 shares during the period. Omnia Family Wealth LLC’s holdings in Eaton were worth $296,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norden Group LLC boosted its stake in Eaton by 3.4% during the 4th quarter. Norden Group LLC now owns 978 shares of the industrial products company’s stock valued at $325,000 after purchasing an additional 32 shares during the last quarter. Nwam LLC boosted its stake in Eaton by 0.6% during the 4th quarter. Nwam LLC now owns 5,314 shares of the industrial products company’s stock valued at $1,764,000 after purchasing an additional 34 shares during the last quarter. Founders Financial Alliance LLC boosted its stake in Eaton by 0.7% during the 4th quarter. Founders Financial Alliance LLC now owns 5,415 shares of the industrial products company’s stock valued at $1,797,000 after purchasing an additional 35 shares during the last quarter. Sound View Wealth Advisors Group LLC boosted its stake in Eaton by 1.1% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 3,587 shares of the industrial products company’s stock valued at $1,190,000 after purchasing an additional 38 shares during the last quarter. Finally, Lantern Wealth Advisors LLC boosted its stake in Eaton by 1.0% during the 4th quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company’s stock valued at $1,340,000 after purchasing an additional 38 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

NYSE ETN opened at $342.72 on Thursday. The company has a market capitalization of $134.11 billion, a PE ratio of 34.58, a price-to-earnings-growth ratio of 2.66 and a beta of 1.16. 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 business’s fifty day moving average is $314.71 and its 200 day moving average is $312.97. Eaton Corporation, PLC has a fifty-two week low of $231.85 and a fifty-two week high of $379.99.

Eaton (NYSE:ETN) last released its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.02. The company had revenue of $6.38 billion for 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%. Eaton’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.40 earnings per share. Sell-side analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given 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 1.21%. Eaton’s payout ratio is 41.98%.

Wall Street Analysts Forecast Growth

Several analysts have commented on ETN shares. BNP Paribas Exane assumed 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. BNP Paribas assumed coverage on Eaton in a report on Thursday, May 15th. They set an “outperform” rating and a $380.00 price target on the stock. Wells Fargo & Company reissued an “overweight” rating and set a $355.00 price target on shares of Eaton in a report on Monday, May 5th. Jefferies Financial Group lowered their price target on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Finally, Morgan Stanley lowered their price target on Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $368.78.

Insider Activity

In other news, insider Michael Yelton sold 2,120 shares of the business’s stock in a transaction dated 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 now directly owns 3,382 shares in the company, valued at $1,004,014.34. The trade was 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 available at this hyperlink. 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. The trade was a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock worth $49,622,894 over the last ninety days. Corporate 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.