Eaton Co. plc (NYSE:ETN) Shares Purchased by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 42.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,035 shares of the industrial products company’s stock after buying an additional 5,668 shares during the period. Eaton makes up 0.9% of Fifth Third Wealth Advisors LLC’s portfolio, making the stock its 17th biggest position. Fifth Third Wealth Advisors LLC’s holdings in Eaton were worth $5,952,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners acquired a new position in Eaton during the 4th quarter valued at about $25,000. Atwood & Palmer Inc. grew its stake in shares of Eaton by 142.9% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 50 shares during the last quarter. Clear Investment Research LLC acquired a new position in shares of Eaton in the 4th quarter worth approximately $29,000. Valued Wealth Advisors LLC acquired a new position in shares of Eaton in the 4th quarter worth approximately $35,000. Finally, Chilton Capital Management LLC acquired a new position in shares of Eaton in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Eaton

In other Eaton news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction on Wednesday, May 8th. The shares were 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 of the company’s stock, valued at $1,687,738.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.53% of the stock is owned by company insiders.

Eaton Stock Down 0.1 %

Shares of ETN traded down $0.39 during mid-day trading on Friday, hitting $313.55. 2,471,379 shares of the company’s stock were exchanged, compared to its average volume of 2,018,670. The company has a market cap of $125.36 billion, a PE ratio of 37.39, a P/E/G ratio of 2.64 and a beta of 1.04. Eaton Co. plc has a 52 week low of $191.82 and a 52 week high of $345.19. The company has a 50-day simple moving average of $325.05 and a 200 day simple moving average of $291.63. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05.

Eaton (NYSE:ETN) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share 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 business had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period last year, the business earned $1.88 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. On average, research analysts forecast that Eaton Co. plc will post 10.56 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were paid a $0.94 dividend. The ex-dividend date was Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.20%. Eaton’s dividend payout ratio is presently 44.39%.

Analysts Set New Price Targets

ETN has been the topic of several recent research reports. Argus lifted their price objective on shares of Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. raised their target price on shares of Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Raymond James started coverage on shares of Eaton in a report on Friday. They issued an “outperform” rating and a $375.00 target price for the company. Mizuho reiterated a “buy” rating and issued a $355.00 target price (up from $340.00) on shares of Eaton in a report on Wednesday, May 1st. Finally, Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $250.00 to $300.00 in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and a consensus target price of $318.06.

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.