Peterson Wealth Services Takes Position in Eaton Co. plc (NYSE:ETN)

Peterson Wealth Services bought a new stake in Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 11,997 shares of the industrial products company’s stock, valued at approximately $2,889,000. Eaton accounts for 1.2% of Peterson Wealth Services’ holdings, making the stock its 25th largest holding.

Other large investors also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners acquired a new stake in shares of Eaton in the 4th quarter valued at about $25,000. PCA Investment Advisory Services Inc. bought a new position in Eaton in the 2nd quarter valued at about $27,000. Valued Wealth Advisors LLC bought a new position in Eaton in the 4th quarter valued at about $35,000. Chilton Capital Management LLC bought a new position in Eaton in the 4th quarter valued at about $35,000. Finally, Global Trust Asset Management LLC bought a new position in Eaton in the 3rd quarter valued at about $32,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Citigroup raised their price target on shares of Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. UBS Group raised their price target on shares of Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Berenberg Bank raised their price target on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. The Goldman Sachs Group raised their price target on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Finally, Mizuho lifted their target price on shares of Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $295.60.

Eaton Stock Performance

Shares of NYSE:ETN traded up $5.19 during mid-day trading on Thursday, reaching $315.37. The company had a trading volume of 339,551 shares, compared to its average volume of 1,871,089. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The firm has a market cap of $125.99 billion, a price-to-earnings ratio of 38.67, a PEG ratio of 2.61 and a beta of 1.07. The company’s 50-day moving average price is $299.48 and its 200-day moving average price is $253.53. Eaton Co. plc has a one year low of $161.12 and a one year high of $331.47.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The company had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. Eaton’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.06 EPS. As a group, equities research analysts anticipate that Eaton Co. plc will post 10.28 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 11th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Friday, March 8th. This is a boost from Eaton’s previous quarterly dividend of $0.86. Eaton’s payout ratio is 46.88%.

Insider Activity at Eaton

In related news, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the transaction, the insider now directly owns 630 shares in the company, valued at approximately $171,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the transaction, the insider now directly owns 630 shares in the company, valued at approximately $171,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, the insider now owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,969 shares of company stock worth $10,904,774. Corporate insiders own 0.53% of the company’s stock.

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.