Accel Wealth Management Takes Position in Eaton Co. plc (NYSE:ETN)

Accel Wealth Management acquired a new stake in shares of Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 865 shares of the industrial products company’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PCA Investment Advisory Services Inc. purchased a new position in shares of Eaton in the second quarter valued at $27,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Eaton in the fourth quarter valued at $30,000. Global Trust Asset Management LLC purchased a new position in shares of Eaton in the third quarter valued at $32,000. Valued Wealth Advisors LLC purchased a new position in Eaton during the fourth quarter worth $35,000. Finally, Cornerstone Planning Group LLC purchased a new position in Eaton during the second quarter worth $36,000. Institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Shares of ETN stock traded down $1.72 during trading hours on Thursday, hitting $312.68. 1,977,505 shares of the company’s stock were exchanged, compared to its average volume of 1,779,236. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The firm has a market cap of $124.92 billion, a P/E ratio of 38.97, a P/E/G ratio of 2.59 and a beta of 1.07. The firm has a 50 day moving average of $278.80 and a two-hundred day moving average of $242.64. Eaton Co. plc has a fifty-two week low of $155.38 and a fifty-two week high of $317.02.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.08. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The business had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the company posted $2.06 EPS. The business’s quarterly revenue was up 10.8% on a year-over-year basis. Sell-side analysts forecast that Eaton Co. plc will post 10.25 EPS for the current year.

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 11th will be paid a $0.94 dividend. The ex-dividend date is Friday, March 8th. This is an increase from Eaton’s previous quarterly dividend of $0.86. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.20%. Eaton’s dividend payout ratio (DPR) is 46.88%.

Analysts Set New Price Targets

ETN has been the subject of a number of recent analyst reports. Mizuho boosted their target price on shares of Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Citigroup lifted their price objective on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Bank of America lifted their price objective on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. UBS Group lifted their price objective on Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Berenberg Bank lifted their price objective on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $274.20.

Insiders Place Their Bets

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