Avior Wealth Management LLC Buys 717 Shares of Eaton Co. plc (NYSE:ETN)

Avior Wealth Management LLC raised its stake in Eaton Co. plc (NYSE:ETN) by 323.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 939 shares of the industrial products company’s stock after acquiring an additional 717 shares during the period. Avior Wealth Management LLC’s holdings in Eaton were worth $226,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Ritholtz Wealth Management grew its position in shares of Eaton by 5.1% in the 4th quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock valued at $1,379,000 after buying an additional 277 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Eaton by 30.5% in the 4th quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock valued at $8,205,000 after buying an additional 7,964 shares during the last quarter. Chicago Capital LLC bought a new stake in shares of Eaton during the 4th quarter valued at about $2,958,000. Neo Ivy Capital Management bought a new stake in shares of Eaton during the 3rd quarter valued at about $479,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its position in shares of Eaton by 13.6% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,458 shares of the industrial products company’s stock valued at $351,000 after purchasing an additional 174 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of Eaton stock opened at $303.22 on Friday. The company has a market cap of $121.14 billion, a PE ratio of 37.81, a price-to-earnings-growth ratio of 2.57 and a beta of 1.07. Eaton Co. plc has a 52 week low of $161.12 and a 52 week high of $331.47. The business has a 50 day moving average price of $300.70 and a 200-day moving average price of $254.56. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.47 by $0.08. The firm had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.06 earnings per share. Equities analysts anticipate that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were paid a $0.94 dividend. The ex-dividend date of this dividend was Friday, March 8th. This is an increase from Eaton’s previous quarterly dividend of $0.86. This represents a $3.76 annualized dividend and a dividend yield of 1.24%. Eaton’s dividend payout ratio is 46.88%.

Wall Street Analysts Forecast Growth

ETN has been the topic of several research analyst reports. Wolfe Research restated an “underperform” rating and set a $312.00 target price on shares of Eaton in a research report on Monday, April 8th. Berenberg Bank upped their target price on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Citigroup upped their target price on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. The Goldman Sachs Group upped their target price on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Finally, 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 research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $295.60.

Insider Transactions at Eaton

In other news, insider Peter Denk sold 1,731 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the sale, the insider now directly owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the completion of the sale, the insider now directly owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Peter Denk sold 1,731 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the sale, the insider now directly owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The disclosure for this sale can be found here. Insiders sold a total of 38,969 shares of company stock valued at $10,904,774 over the last ninety days. 0.53% of the stock is currently owned by insiders.

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.