Wealth Alliance Has $2.20 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Wealth Alliance increased its position in shares of Eaton Co. plc (NYSE:ETN) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,124 shares of the industrial products company’s stock after buying an additional 159 shares during the quarter. Wealth Alliance’s holdings in Eaton were worth $2,197,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ETN. Tennessee Valley Asset Management Partners purchased a new stake in shares of Eaton in the fourth quarter worth approximately $25,000. PCA Investment Advisory Services Inc. purchased a new stake in shares of Eaton in the second quarter worth approximately $27,000. Valued Wealth Advisors LLC purchased a new stake in shares of Eaton in the fourth quarter worth approximately $35,000. Chilton Capital Management LLC purchased a new stake in shares of Eaton in the fourth quarter worth approximately $35,000. Finally, Global Trust Asset Management LLC purchased a new stake in shares of Eaton in the third quarter worth approximately $32,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction dated 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 owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Olivier Leonetti sold 4,461 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the transaction, the insider now owns 630 shares in the company, valued at approximately $171,360. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’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 in the company, valued at approximately $8,116,427.04. 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 90 days. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ETN. Wells Fargo & Company increased their price target on Eaton from $220.00 to $257.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 19th. Mizuho increased their price target on Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Wolfe Research reaffirmed an “underperform” rating and set a $312.00 price target on shares of Eaton in a research report on Monday, April 8th. Citigroup increased their price target on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, The Goldman Sachs Group increased their price target on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $295.60.

Eaton Stock Performance

Shares of NYSE ETN traded up $1.76 during mid-day trading on Tuesday, hitting $317.04. The company had a trading volume of 1,093,301 shares, compared to its average volume of 1,882,022. The company has a market capitalization of $126.66 billion, a price-to-earnings ratio of 39.31, a P/E/G ratio of 2.65 and a beta of 1.07. Eaton Co. plc has a 1 year low of $161.12 and a 1 year high of $331.47. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The stock’s 50-day moving average price is $297.85 and its 200-day moving average price is $252.41.

Eaton (NYSE:ETN) last posted its earnings results 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. 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 analysts’ expectations of $5.91 billion. During the same period in the previous year, the business earned $2.06 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts forecast that Eaton Co. plc will post 10.25 earnings per share for the current year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $3.76 annualized dividend and a yield of 1.19%. This is a positive change from Eaton’s previous quarterly dividend of $0.86. Eaton’s payout ratio is 46.88%.

Eaton Company 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.