Eaton Co. plc (NYSE:ETN) Position Boosted by Colonial River Wealth Management LLC

Colonial River Wealth Management LLC grew its position in shares of Eaton Co. plc (NYSE:ETN – Get Rating) by 5.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,875 shares of the industrial products company’s stock after buying an additional 100 shares during the quarter. Colonial River Wealth Management LLC’s holdings in Eaton were worth $294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in ETN. Collective Family Office LLC increased its holdings in Eaton by 3.0% during the 4th quarter. Collective Family Office LLC now owns 2,187 shares of the industrial products company’s stock worth $343,000 after purchasing an additional 64 shares in the last quarter. Avestar Capital LLC lifted its holdings in shares of Eaton by 1.4% in the fourth quarter. Avestar Capital LLC now owns 4,629 shares of the industrial products company’s stock worth $727,000 after buying an additional 65 shares in the last quarter. Motco grew its position in shares of Eaton by 4.4% during the 4th quarter. Motco now owns 1,533 shares of the industrial products company’s stock valued at $241,000 after purchasing an additional 65 shares in the last quarter. Doyle Wealth Management grew its position in Eaton by 2.4% during the third quarter. Doyle Wealth Management now owns 2,777 shares of the industrial products company’s stock worth $370,000 after buying an additional 66 shares in the last quarter. Finally, Mayflower Financial Advisors LLC increased its position in shares of Eaton by 3.2% in the fourth quarter. Mayflower Financial Advisors LLC now owns 2,101 shares of the industrial products company’s stock worth $330,000 after purchasing an additional 66 shares during the last quarter. 80.19% of the stock is currently owned by institutional investors and hedge funds.

Eaton Price Performance

Shares of ETN stock traded up $3.97 during midday trading on Friday, reaching $180.92. 1,631,760 shares of the company traded hands, compared to its average volume of 1,970,712. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.50 and a quick ratio of 0.91. The firm’s 50 day simple moving average is $166.30 and its two-hundred day simple moving average is $164.70. Eaton Co. plc has a 1-year low of $122.50 and a 1-year high of $182.48. The firm has a market cap of $72.11 billion, a PE ratio of 28.15, a price-to-earnings-growth ratio of 1.81 and a beta of 1.12.

Eaton (NYSE:ETN – Get Rating) last posted its earnings results on Tuesday, May 2nd. The industrial products company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.10. Eaton had a net margin of 12.00% and a return on equity of 18.70%. The business had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.23 billion. During the same quarter in the previous year, the business posted $1.62 EPS. The business’s quarterly revenue was up 13.6% on a year-over-year basis. On average, equities research analysts expect that Eaton Co. plc will post 8.44 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Monday, May 8th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Friday, May 5th. Eaton’s dividend payout ratio is 53.67%.

Insiders Place Their Bets

In related news, insider Joao V. Faria sold 2,500 shares of Eaton stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $176.71, for a total transaction of $441,775.00. Following the completion of the transaction, the insider now directly owns 71,314 shares of the company’s stock, valued at approximately $12,601,896.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Joao V. Faria sold 2,500 shares of the stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $176.71, for a total transaction of $441,775.00. Following the completion of the transaction, the insider now owns 71,314 shares in the company, valued at $12,601,896.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian S. Brickhouse sold 21,347 shares of the company’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $176.97, for a total transaction of $3,777,778.59. Following the sale, the insider now directly owns 15,905 shares in the company, valued at $2,814,707.85. The disclosure for this sale can be found here. Insiders sold a total of 29,051 shares of company stock worth $5,127,912 in the last quarter. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. 92 Resources reaffirmed a “maintains” rating on shares of Eaton in a research note on Wednesday, May 3rd. Wells Fargo & Company dropped their target price on Eaton from $180.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, April 13th. Barclays upped their price target on Eaton from $145.00 to $159.00 in a report on Wednesday, May 3rd. Morgan Stanley upped their price target on Eaton from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Eaton from $188.00 to $189.00 and gave the company a “buy” rating in a research report on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.77.

About Eaton

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Eaton Corp. Plc is a power management company, which provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through the following segments: Electrical Americas and Electrical Global, Aerospace, Vehicle, and eMobility. The Electrical Americas and Electrical Global segments engage in sales contracts for electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and service.