Spire Wealth Management Has $3.65 Million Stake in Eaton Co. plc (NYSE:ETN)

Spire Wealth Management boosted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 66.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 14,914 shares of the industrial products company’s stock after acquiring an additional 5,932 shares during the period. Spire Wealth Management’s holdings in Eaton were worth $3,648,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. FMR LLC raised its stake in shares of Eaton by 36.0% in the 3rd quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after purchasing an additional 5,270,331 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Eaton during the 3rd quarter worth approximately $340,500,000. Deutsche Bank AG boosted its holdings in Eaton by 97.5% during the third 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 during the last quarter. Artisan Partners Limited Partnership acquired a new stake in Eaton in the 3rd quarter valued at $67,305,000. Finally, International Assets Investment Management LLC boosted its stake in shares of Eaton by 21,664.8% during the 4th quarter. International Assets Investment Management LLC now owns 316,242 shares of the industrial products company’s stock worth $76,157,000 after buying an additional 314,789 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ETN shares. Bank of America upped their target price on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $286.00 to $371.00 in a research note on Friday, April 5th. Wolfe Research reissued an “underperform” rating and set a $312.00 target price on shares of Eaton in a report on Monday, April 8th. Mizuho reaffirmed a “buy” rating and set a $355.00 price objective (up from $340.00) on shares of Eaton in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Eaton has a consensus rating of “Moderate Buy” and an average target price of $314.27.

Insider Transactions at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the sale, the insider now directly owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the sale, the insider now owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The transaction was disclosed in a legal filing with the SEC, 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 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 completion of the transaction, the insider now owns 29,712 shares in the company, valued at $8,116,427.04. The disclosure for this sale can be found here. Insiders have sold a total of 38,969 shares of company stock valued at $10,904,774 in the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Eaton Trading Down 0.0 %

Shares of ETN stock traded down $0.03 on Tuesday, hitting $327.21. 138,245 shares of the company’s stock traded hands, compared to its average volume of 2,006,649. The company’s fifty day simple moving average is $309.54 and its 200 day simple moving average is $263.61. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. Eaton Co. plc has a one year low of $165.24 and a one year high of $333.05. The stock has a market capitalization of $130.82 billion, a price-to-earnings ratio of 38.65, a P/E/G ratio of 2.54 and a beta of 1.06.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.12. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.88 earnings per share. Equities analysts forecast that Eaton Co. plc will post 10.45 EPS for the current year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Eaton 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.