Unique Wealth LLC Acquires 1,835 Shares of Eaton Co. plc (NYSE:ETN)

Unique Wealth LLC grew its holdings in shares of Eaton Co. plc (NYSE:ETN) by 169.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,915 shares of the industrial products company’s stock after acquiring an additional 1,835 shares during the period. Unique Wealth LLC’s holdings in Eaton were worth $911,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ETN. Tennessee Valley Asset Management Partners bought a new position in shares of Eaton during the fourth quarter valued at $25,000. Atwood & Palmer Inc. raised its stake 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 during the last quarter. Clear Investment Research LLC bought a new position in Eaton during the fourth quarter worth $29,000. Valued Wealth Advisors LLC bought a new position in Eaton during the fourth quarter worth $35,000. Finally, Chilton Capital Management LLC bought a new position in Eaton during the fourth quarter worth $35,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Down 1.0 %

Eaton stock traded down $3.18 during midday trading on Friday, hitting $320.06. 3,068,313 shares of the stock were exchanged, compared to its average volume of 2,008,826. The stock has a market capitalization of $127.96 billion, a price-to-earnings ratio of 37.79, a price-to-earnings-growth ratio of 2.70 and a beta of 1.04. 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 52-week low of $191.82 and a 52-week high of $345.19. The business’s 50-day moving average price is $324.66 and its 200-day moving average price is $289.72.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.28 by $0.12. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the previous year, the firm posted $1.88 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, research analysts expect that Eaton Co. plc will post 10.56 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is currently 44.39%.

Insider Buying and Selling

In related news, insider Peter Denk sold 2,416 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total transaction 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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ETN has been the subject of a number of analyst reports. Mizuho reissued a “buy” rating and set a $355.00 target price (up previously from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. The Goldman Sachs Group raised their price target on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, March 15th. JPMorgan Chase & Co. raised their price target on shares of Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $250.00 to $300.00 in a report on Tuesday, April 2nd. Finally, Bank of America raised their price target on shares of Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and an average target price of $314.27.

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.