Forza Wealth Management LLC Makes New $240,000 Investment in Eaton Co. plc (NYSE:ETN)

Forza Wealth Management LLC acquired a new stake in Eaton Co. plc (NYSE:ETN) in the 1st quarter, Holdings Channel reports. The firm acquired 767 shares of the industrial products company’s stock, valued at approximately $240,000.

Other institutional investors also recently modified their holdings of the company. Avior Wealth Management LLC grew its stake in Eaton by 69.5% in the third quarter. Avior Wealth Management LLC now owns 222 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 91 shares during the period. Meridian Wealth Management LLC grew its position in Eaton by 17.2% in the 3rd quarter. Meridian Wealth Management LLC now owns 1,379 shares of the industrial products company’s stock valued at $294,000 after purchasing an additional 202 shares during the period. Strategic Blueprint LLC increased its stake in Eaton by 11.9% during the 3rd quarter. Strategic Blueprint LLC now owns 2,890 shares of the industrial products company’s stock valued at $616,000 after purchasing an additional 307 shares in the last quarter. KRS Capital Management LLC raised its holdings in Eaton by 14.0% during the third quarter. KRS Capital Management LLC now owns 2,766 shares of the industrial products company’s stock worth $590,000 after buying an additional 340 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC lifted its stake in shares of Eaton by 14.4% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 13,122 shares of the industrial products company’s stock valued at $2,799,000 after buying an additional 1,652 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

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

Analysts Set New Price Targets

Several research firms have recently commented on ETN. Wolfe Research reissued an “underperform” rating and set a $312.00 target price on shares of Eaton in a research report on Monday, April 8th. The Goldman Sachs Group increased their price objective on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Evercore ISI lifted their target price on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Citigroup upped their price target on Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Mizuho raised their price objective on Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $295.60.

Eaton Stock Performance

Shares of NYSE:ETN traded up $2.54 during midday trading on Monday, reaching $326.84. The company had a trading volume of 3,151,497 shares, compared to its average volume of 1,971,578. The stock has a market cap of $130.57 billion, a P/E ratio of 40.75, a P/E/G ratio of 2.69 and a beta of 1.07. The company’s 50 day moving average price is $305.81 and its 200 day moving average price is $259.67. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. Eaton Co. plc has a 52-week low of $165.24 and a 52-week high of $331.47.

Eaton (NYSE:ETN) last released its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The firm had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the previous year, the company earned $2.06 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, sell-side 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. Shareholders of record on Monday, May 6th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s dividend payout ratio is currently 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.