Accurate Wealth Management LLC Increases Stock Position in Eaton Co. plc (NYSE:ETN)

Accurate Wealth Management LLC boosted its stake in Eaton Co. plc (NYSE:ETN) by 10.2% during the first quarter, HoldingsChannel reports. The firm owned 1,276 shares of the industrial products company’s stock after buying an additional 118 shares during the period. Accurate Wealth Management LLC’s holdings in Eaton were worth $355,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ETN. Ayrshire Capital Management LLC grew its holdings in shares of Eaton by 6.6% in the first quarter. Ayrshire Capital Management LLC now owns 21,939 shares of the industrial products company’s stock worth $5,964,000 after purchasing an additional 1,358 shares during the last quarter. Fiduciary Financial Group LLC grew its holdings in shares of Eaton by 14.2% in the first quarter. Fiduciary Financial Group LLC now owns 1,251 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 156 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Eaton by 0.7% in the first quarter. GAMMA Investing LLC now owns 13,219 shares of the industrial products company’s stock worth $3,593,000 after purchasing an additional 96 shares during the last quarter. Wealthcare Advisory Partners LLC grew its holdings in shares of Eaton by 2.5% in the first quarter. Wealthcare Advisory Partners LLC now owns 5,800 shares of the industrial products company’s stock worth $1,577,000 after purchasing an additional 139 shares during the last quarter. Finally, Trust Co. of Oklahoma bought a new position in shares of Eaton in the first quarter worth approximately $541,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Price Performance

ETN opened at $325.56 on Thursday. The stock has a 50-day moving average price of $301.79 and a 200-day moving average price of $315.72. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The firm has a market cap of $127.39 billion, a PE ratio of 34.27, a P/E/G ratio of 2.64 and a beta of 1.16. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99.

Eaton (NYSE:ETN) last issued its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.70 by $0.02. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the previous year, the firm earned $2.40 EPS. Eaton’s revenue was up 7.3% on a year-over-year basis. Sell-side analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a dividend of $1.04 per share. The ex-dividend date was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.28%. Eaton’s dividend payout ratio (DPR) is presently 41.98%.

Insider Activity at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the transaction, the insider now owns 3,382 shares of the company’s stock, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig Arnold sold 51,054 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $305.43, for a total value of $15,593,423.22. Following the transaction, the insider now directly owns 489,444 shares in the company, valued at $149,490,880.92. The trade was a 9.45% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ETN. BNP Paribas started coverage on shares of Eaton in a report on Thursday, May 15th. They issued an “outperform” rating and a $380.00 target price on the stock. Wall Street Zen upgraded shares of Eaton from a “hold” rating to a “buy” rating in a report on Sunday, May 18th. Barclays lifted their price target on shares of Eaton from $306.00 to $323.00 and gave the company an “equal weight” rating in a report on Monday. BNP Paribas Exane started coverage on shares of Eaton in a report on Thursday, May 15th. They issued an “outperform” rating and a $380.00 price target on the stock. Finally, Morgan Stanley cut their price target on shares of Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $368.78.

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.