Valmark Advisers Inc. Has $1.32 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Valmark Advisers Inc. grew its stake in Eaton Co. plc (NYSE:ETN) by 13.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,480 shares of the industrial products company’s stock after purchasing an additional 667 shares during the quarter. Valmark Advisers Inc.’s holdings in Eaton were worth $1,320,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ETN. Avior Wealth Management LLC lifted its stake in shares of Eaton by 69.5% in the 3rd quarter. Avior Wealth Management LLC now owns 222 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 91 shares during the period. U.S. Capital Wealth Advisors LLC increased its position in shares of Eaton by 14.4% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 13,122 shares of the industrial products company’s stock valued at $2,799,000 after buying an additional 1,652 shares in the last quarter. Charles Schwab Trust Co bought a new stake in shares of Eaton in the 3rd quarter valued at $209,000. Golden State Equity Partners increased its position in shares of Eaton by 6.7% in the 3rd quarter. Golden State Equity Partners now owns 1,892 shares of the industrial products company’s stock valued at $404,000 after buying an additional 118 shares in the last quarter. Finally, Lake Street Financial LLC increased its position in shares of Eaton by 23.8% in the 3rd quarter. Lake Street Financial LLC now owns 1,933 shares of the industrial products company’s stock valued at $417,000 after buying an additional 372 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Up 2.3 %

Shares of NYSE ETN traded up $7.20 during mid-day trading on Friday, hitting $324.30. The company had a trading volume of 2,305,692 shares, compared to its average volume of 2,383,996. The company has a market capitalization of $129.56 billion, a PE ratio of 40.44, a price-to-earnings-growth ratio of 2.69 and a beta of 1.07. The firm has a 50-day simple moving average of $304.82 and a two-hundred day simple moving average of $258.60. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. Eaton Co. plc has a one year low of $162.04 and a one year high of $331.47.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.08. The company had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. Eaton’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.06 EPS. On average, equities analysts expect that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a $0.94 dividend. The ex-dividend date is Friday, May 3rd. This represents a $3.76 annualized dividend and a yield of 1.16%. Eaton’s dividend payout ratio (DPR) is currently 46.88%.

Analysts Set New Price Targets

A number of analysts recently commented on ETN shares. Berenberg Bank upped their price objective 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. Bank of America upped their price objective on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, March 18th. UBS Group upped their price objective 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. Citigroup increased their target price on Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $250.00 to $300.00 in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $295.60.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the sale, the insider now directly owns 29,712 shares in the company, valued at approximately $8,116,427.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 630 shares in the company, valued at approximately $171,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 29,712 shares of the company’s stock, valued at $8,116,427.04. 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. Insiders own 0.53% of the company’s stock.

Eaton Company 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.