Crewe Advisors LLC Makes New Investment in Eaton Co. plc (NYSE:ETN)

Crewe Advisors LLC purchased a new position in Eaton Co. plc (NYSE:ETN) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,013 shares of the industrial products company’s stock, valued at approximately $317,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ritholtz Wealth Management lifted its holdings in shares of Eaton by 5.1% in the fourth quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock valued at $1,379,000 after purchasing an additional 277 shares in the last quarter. Pinnbrook Capital Management LP bought a new position in shares of Eaton in the fourth quarter valued at approximately $15,109,000. Congress Wealth Management LLC DE lifted its holdings in shares of Eaton by 8.1% in the fourth quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company’s stock valued at $18,479,000 after purchasing an additional 5,725 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Eaton by 30.5% in the fourth quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock valued at $8,205,000 after purchasing an additional 7,964 shares in the last quarter. Finally, Norden Group LLC bought a new position in shares of Eaton in the first quarter valued at approximately $2,176,000. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the completion of the sale, the insider now owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Eaton Price Performance

Eaton stock traded down $6.80 during midday trading on Thursday, hitting $292.80. 5,569,704 shares of the company’s stock were exchanged, compared to its average volume of 2,058,874. Eaton Co. plc has a 52-week low of $191.82 and a 52-week high of $345.19. The stock has a 50-day moving average price of $322.95 and a two-hundred day moving average price of $302.84. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. The company has a market cap of $117.06 billion, a P/E ratio of 34.57, a PEG ratio of 2.70 and a beta of 1.02.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the previous year, the company posted $1.88 earnings per share. The company’s revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts forecast that Eaton Co. plc will post 10.56 earnings per share for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Monday, August 5th. Eaton’s dividend payout ratio (DPR) is currently 44.39%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. HSBC lifted their price target on Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Royal Bank of Canada upgraded Eaton from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $286.00 to $371.00 in a report on Friday, April 5th. Raymond James assumed coverage on Eaton in a report on Friday, June 28th. They set an “outperform” rating and a $375.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Jefferies Financial Group lifted their price target on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $323.06.

About Eaton

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.