Eaton Co. plc (NYSE:ETN) Shares Bought by RWA Wealth Partners LLC

RWA Wealth Partners LLC grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 34.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,110 shares of the industrial products company’s stock after acquiring an additional 3,393 shares during the quarter. RWA Wealth Partners LLC’s holdings in Eaton were worth $3,157,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Eaton by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 36,336,041 shares of the industrial products company’s stock valued at $7,749,751,000 after acquiring an additional 176,900 shares during the last quarter. FMR LLC increased its position in Eaton by 36.0% during the 3rd quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock worth $4,248,960,000 after purchasing an additional 5,270,331 shares in the last quarter. Northern Trust Corp increased its position in Eaton by 2.2% during the 3rd quarter. Northern Trust Corp now owns 5,009,435 shares of the industrial products company’s stock worth $1,068,412,000 after purchasing an additional 109,775 shares in the last quarter. Raymond James & Associates increased its position in Eaton by 3.8% during the 4th quarter. Raymond James & Associates now owns 3,739,725 shares of the industrial products company’s stock worth $900,600,000 after purchasing an additional 138,465 shares in the last quarter. Finally, Deutsche Bank AG increased its position in Eaton by 97.5% during the 3rd quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock worth $396,767,000 after purchasing an additional 918,422 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

ETN stock opened at $312.90 on Wednesday. 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 $125.00 billion, a P/E ratio of 39.02, a P/E/G ratio of 2.55 and a beta of 1.07. Eaton Co. plc has a 12-month low of $161.12 and a 12-month high of $331.47. The stock’s 50 day simple moving average is $302.20 and its 200 day simple moving average is $256.66.

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

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.20%. Eaton’s dividend payout ratio is currently 46.88%.

Insiders Place Their Bets

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the sale, the insider now directly owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the transaction, the insider now directly owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the transaction, the insider now directly owns 5,514 shares in the company, valued at $1,593,380.58. The disclosure for this sale can be found here. Insiders have sold 38,969 shares of company stock valued at $10,904,774 over the last three months. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the subject of a number of analyst reports. Evercore ISI upped their price target on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Royal Bank of Canada upgraded Eaton from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $286.00 to $371.00 in a report on Friday, April 5th. Wolfe Research restated an “underperform” rating and issued a $312.00 price target on shares of Eaton in a report on Monday, April 8th. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $250.00 to $300.00 in a report on Tuesday, April 2nd. Finally, Bank of America increased their target price on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Eaton presently has an average rating of “Moderate Buy” and an average target price of $295.60.

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.