Cetera Advisors LLC Grows Stake in Eaton Co. PLC (NYSE:ETN)

Cetera Advisors LLC boosted its position in shares of Eaton Co. PLC (NYSE:ETN) by 19.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,527 shares of the industrial products company’s stock after purchasing an additional 905 shares during the quarter. Cetera Advisors LLC’s holdings in Eaton were worth $429,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lenox Wealth Management Inc. purchased a new position in Eaton during the 4th quarter worth $27,000. Golden State Wealth Management LLC purchased a new position in Eaton during the 1st quarter worth $34,000. Lloyd Advisory Services LLC. purchased a new position in Eaton during the 4th quarter worth $36,000. Ameritas Investment Company LLC increased its holdings in Eaton by 369.1% during the 4th quarter. Ameritas Investment Company LLC now owns 380 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 299 shares during the period. Finally, Red Door Wealth Management LLC purchased a new position in Eaton during the 1st quarter worth $36,000. Institutional investors own 79.96% of the company’s stock.

Eaton stock opened at $78.67 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.75 and a quick ratio of 1.28. The stock has a market capitalization of $31.32 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.90 and a beta of 1.15. Eaton Co. PLC has a 1-year low of $56.42 and a 1-year high of $105.78. The business has a fifty day moving average price of $78.43 and a 200-day moving average price of $88.83.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.02. Eaton had a return on equity of 14.67% and a net margin of 10.19%. The firm had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.84 billion. During the same quarter last year, the firm earned $1.26 EPS. The business’s quarterly revenue was down 9.7% on a year-over-year basis. On average, equities research analysts anticipate that Eaton Co. PLC will post 3.74 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 14th will be given a dividend of $0.73 per share. The ex-dividend date is Wednesday, May 13th. This represents a $2.92 dividend on an annualized basis and a yield of 3.71%. Eaton’s dividend payout ratio is currently 51.50%.

Several research analysts have commented on the company. Oppenheimer started coverage on Eaton in a report on Tuesday, February 4th. They set a “buy” rating and a $115.00 price objective on the stock. Vertical Research raised Eaton from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. UBS Group increased their target price on Eaton from $90.00 to $93.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Deutsche Bank increased their target price on Eaton from $91.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Wells Fargo & Co dropped their target price on Eaton from $100.00 to $92.00 and set an “overweight” rating on the stock in a research report on Thursday, April 16th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $93.12.

Eaton Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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