Centric Wealth Management Makes New Investment in Eaton Co. plc (NYSE:ETN)

Centric Wealth Management purchased a new stake in Eaton Co. plc (NYSE:ETN) in the fourth quarter, HoldingsChannel reports. The firm purchased 799 shares of the industrial products company’s stock, valued at approximately $192,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tennessee Valley Asset Management Partners acquired a new stake in shares of Eaton in the fourth quarter valued at approximately $25,000. Valued Wealth Advisors LLC purchased a new stake in shares of Eaton in the fourth quarter valued at $35,000. Chilton Capital Management LLC acquired a new stake in shares of Eaton during the fourth quarter valued at $35,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of Eaton during the third quarter worth about $39,000. Finally, Fortitude Family Office LLC purchased a new position in Eaton during the fourth quarter worth approximately $46,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Stock Up 0.0 %

NYSE ETN traded up $0.06 on Tuesday, hitting $327.30. 1,792,924 shares of the stock traded hands, compared to its average volume of 2,025,208. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average of $310.41 and a 200 day moving average of $264.55. Eaton Co. plc has a twelve month low of $165.24 and a twelve month high of $333.05. The company has a market capitalization of $130.85 billion, a P/E ratio of 38.64, a price-to-earnings-growth ratio of 2.54 and a beta of 1.06.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.91 billion. The business’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.88 EPS. As a group, analysts expect that Eaton Co. plc will post 10.45 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a dividend of $0.94 per share. 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 is currently 44.39%.

Wall Street Analyst Weigh In

ETN has been the subject of several recent research reports. Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Royal Bank of Canada upgraded Eaton from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $286.00 to $371.00 in a research note on Friday, April 5th. HSBC raised their target price on Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a report on Friday. Bank of America upped their price target on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, Argus boosted their target price on shares of Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $314.27.

Insiders Place Their Bets

In other 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 completion of the transaction, the insider now owns 29,712 shares in the company, valued at $8,116,427.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Eaton news, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, the insider now owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The disclosure for this sale can be found here. Insiders have sold 38,969 shares of company stock valued at $10,904,774 over the last three months. Company insiders own 0.33% of the company’s stock.

Eaton 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.