Omnia Family Wealth LLC Makes New Investment in Eaton Co. plc (NYSE:ETN)

Omnia Family Wealth LLC bought a new position in Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 860 shares of the industrial products company’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC boosted its stake in Eaton by 36.0% during the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock worth $4,248,960,000 after buying an additional 5,270,331 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Eaton in the 3rd quarter valued at $340,500,000. Deutsche Bank AG lifted its stake in shares of Eaton by 97.5% in the 3rd quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock valued at $396,767,000 after purchasing an additional 918,422 shares during the last quarter. Artisan Partners Limited Partnership acquired a new position in shares of Eaton in the 3rd quarter valued at $67,305,000. Finally, International Assets Investment Management LLC lifted its stake in shares of Eaton by 21,664.8% in the 4th quarter. International Assets Investment Management LLC now owns 316,242 shares of the industrial products company’s stock valued at $76,157,000 after purchasing an additional 314,789 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Eaton stock traded up $7.20 during mid-day trading on Friday, reaching $324.30. 2,305,692 shares of the company were exchanged, compared to its average volume of 2,383,996. Eaton Co. plc has a twelve month low of $162.04 and a twelve month high of $331.47. The firm’s 50-day simple moving average is $304.82 and its two-hundred day simple moving average is $258.60. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.51. The firm has a market cap of $129.56 billion, a PE ratio of 40.44, a price-to-earnings-growth ratio of 2.69 and a beta of 1.07.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 earnings per share 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 return on equity of 20.05% and a net margin of 13.88%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the firm earned $2.06 EPS. Equities analysts predict that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is 46.88%.

Insider Transactions at Eaton

In related news, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the transaction, the insider now directly owns 630 shares of the company’s stock, valued at approximately $171,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Peter Denk sold 1,731 shares of Eaton stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the sale, the insider now owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the sale, the insider now directly owns 630 shares of the company’s stock, valued at approximately $171,360. The disclosure for this sale can be found here. In the last three months, insiders sold 38,969 shares of company stock valued at $10,904,774. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ETN shares. Berenberg Bank upped 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. Wolfe Research reiterated an “underperform” rating and issued a $312.00 price objective on shares of Eaton in a report on Monday, April 8th. Bank of America boosted their price objective on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. Barclays upgraded 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 report on Tuesday, April 2nd. Finally, UBS Group upped their price target on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and an average target price of $295.60.

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.