Eaton Co. plc (NYSE:ETN) Shares Acquired by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC increased its position in shares of Eaton Co. plc (NYSE:ETN) by 9.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,430 shares of the industrial products company’s stock after acquiring an additional 1,007 shares during the period. Valeo Financial Advisors LLC’s holdings in Eaton were worth $3,574,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Atwood & Palmer Inc. grew its holdings in shares of Eaton by 142.9% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 50 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in Eaton during the 4th quarter worth about $25,000. Clear Investment Research LLC purchased a new stake in Eaton during the fourth quarter valued at about $29,000. Valued Wealth Advisors LLC acquired a new position in shares of Eaton in the fourth quarter worth about $35,000. Finally, Chilton Capital Management LLC purchased a new position in shares of Eaton in the fourth quarter worth approximately $35,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Performance

Shares of Eaton stock traded up $5.14 on Wednesday, reaching $318.42. The stock had a trading volume of 1,122,704 shares, compared to its average volume of 2,020,783. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $345.19. The business’s 50-day moving average price is $325.44 and its two-hundred day moving average price is $294.18. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. The stock has a market cap of $127.30 billion, a P/E ratio of 37.65, a price-to-earnings-growth ratio of 2.64 and a beta of 1.02.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the previous year, the company posted $1.88 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, sell-side analysts forecast that Eaton Co. plc will post 10.55 EPS for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.18%. Eaton’s payout ratio is 44.39%.

Analysts Set New Price Targets

A number of equities analysts recently commented on ETN shares. Raymond James initiated coverage on shares of Eaton in a research note on Friday, June 28th. They issued an “outperform” rating and a $375.00 price objective for the company. Royal Bank of Canada upgraded Eaton from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $286.00 to $371.00 in a report on Friday, April 5th. Argus raised their price objective on Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $250.00 to $300.00 in a report on Tuesday, April 2nd. Finally, 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average price target of $318.06.

Insider Buying and Selling at Eaton

In other Eaton news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction 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 in the company, valued at $1,687,738.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.33% 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.