EP Wealth Advisors LLC Increases Stake in Eaton Co. plc (NYSE:ETN)

EP Wealth Advisors LLC grew its holdings in Eaton Co. plc (NYSE:ETNFree Report) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,030 shares of the industrial products company’s stock after acquiring an additional 744 shares during the period. EP Wealth Advisors LLC’s holdings in Eaton were worth $4,342,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of ETN. Rafferty Asset Management LLC grew its holdings in Eaton by 10.4% during the 3rd quarter. Rafferty Asset Management LLC now owns 31,733 shares of the industrial products company’s stock worth $6,768,000 after acquiring an additional 2,985 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in Eaton in the third quarter valued at $14,376,000. Envestnet Asset Management Inc. raised its stake in Eaton by 12.6% in the third quarter. Envestnet Asset Management Inc. now owns 813,433 shares of the industrial products company’s stock valued at $173,489,000 after buying an additional 91,264 shares in the last quarter. TRUE Private Wealth Advisors lifted its holdings in Eaton by 14.2% during the 3rd quarter. TRUE Private Wealth Advisors now owns 1,476 shares of the industrial products company’s stock worth $315,000 after buying an additional 183 shares during the last quarter. Finally, Meridian Wealth Advisors LLC boosted its position in shares of Eaton by 0.7% during the 3rd quarter. Meridian Wealth Advisors LLC now owns 26,438 shares of the industrial products company’s stock worth $5,639,000 after acquiring an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In related news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total transaction of $801,725.44. Following the completion of the transaction, the insider now directly owns 5,086 shares in the company, valued at approximately $1,687,738.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ETN shares. Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $250.00 to $300.00 in a report on Tuesday, April 2nd. JPMorgan Chase & Co. boosted their price target on shares of Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Wolfe Research reaffirmed an “underperform” rating and set a $312.00 price objective on shares of Eaton in a report on Monday, April 8th. Argus boosted their target price on Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, Evercore ISI raised their price target on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average price target of $314.27.

View Our Latest Stock Analysis on Eaton

Eaton Stock Performance

NYSE:ETN traded down $9.33 during mid-day trading on Friday, reaching $319.02. The stock had a trading volume of 2,055,883 shares, compared to its average volume of 1,972,370. Eaton Co. plc has a twelve month low of $189.26 and a twelve month high of $345.19. The business has a 50 day simple moving average of $323.99 and a 200 day simple moving average of $286.33. The firm has a market capitalization of $127.54 billion, a price-to-earnings ratio of 37.66, a PEG ratio of 2.67 and a beta of 1.04. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56.

Eaton (NYSE:ETNGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.28 by $0.12. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The firm had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter last year, the business earned $1.88 earnings per share. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, analysts expect that Eaton Co. plc will post 10.56 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were given a $0.94 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.18%. Eaton’s dividend payout ratio is presently 44.39%.

Eaton Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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