Waverly Advisors LLC Has $2.29 Million Stake in Eaton Co. plc (NYSE:ETN)

Waverly Advisors LLC lifted its position in shares of Eaton Co. plc (NYSE:ETN) by 7.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,323 shares of the industrial products company’s stock after purchasing an additional 483 shares during the quarter. Waverly Advisors LLC’s holdings in Eaton were worth $2,290,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. LifeSteps Financial Inc. acquired a new position in shares of Eaton during the first quarter worth approximately $25,000. Atwood & Palmer Inc. grew its holdings in Eaton by 142.9% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after buying an additional 50 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new stake in Eaton during the fourth quarter worth $25,000. Redmont Wealth Advisors LLC bought a new stake in Eaton during the first quarter worth $33,000. Finally, Clear Investment Research LLC bought a new stake in Eaton during the fourth quarter worth $29,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Eaton news, insider Peter Denk sold 2,416 shares of the firm’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 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 legal filing with the SEC, which is accessible through this hyperlink. 0.53% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ETN has been the subject of several recent research reports. Jefferies Financial Group upped 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. Barclays upped their price target on Eaton from $316.00 to $318.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Wolfe Research reiterated an “underperform” rating and set a $312.00 price target on shares of Eaton in a report on Monday, April 8th. Royal Bank of Canada upgraded Eaton from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $286.00 to $371.00 in a research note on Friday, April 5th. Finally, Mizuho restated a “buy” rating and issued a $355.00 price objective (up previously from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $323.06.

Eaton Price Performance

ETN traded down $10.28 during trading on Tuesday, reaching $286.33. 3,417,169 shares of the company were exchanged, compared to its average volume of 2,078,753. The company’s 50-day moving average is $321.57 and its two-hundred day moving average is $304.51. The company has a market cap of $114.47 billion, a price-to-earnings ratio of 35.02, a P/E/G ratio of 2.49 and a beta of 1.02. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. Eaton Co. plc has a 12-month low of $191.82 and a 12-month high of $345.19.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. The business had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.88 EPS. Research analysts forecast that Eaton Co. plc will post 10.56 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, August 23rd. Investors of record on Monday, August 5th will be issued a dividend of $0.94 per share. The ex-dividend date is Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.31%. Eaton’s dividend payout ratio (DPR) is 44.39%.

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.