Arbor Wealth Advisors LLC Purchases New Holdings in Eaton Co. plc (NYSE:ETN)

Arbor Wealth Advisors LLC purchased a new stake in Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,256 shares of the industrial products company’s stock, valued at approximately $302,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new position in Eaton in the 4th quarter valued at about $1,469,000. Eudaimonia Advisors LLC lifted its stake in Eaton by 34.9% in the 4th quarter. Eudaimonia Advisors LLC now owns 5,799 shares of the industrial products company’s stock worth $1,397,000 after purchasing an additional 1,499 shares in the last quarter. SlateStone Wealth LLC lifted its stake in Eaton by 2.4% in the 4th quarter. SlateStone Wealth LLC now owns 6,626 shares of the industrial products company’s stock worth $1,596,000 after purchasing an additional 155 shares in the last quarter. Marks Group Wealth Management Inc purchased a new position in Eaton in the 4th quarter worth approximately $7,443,000. Finally, Illinois Municipal Retirement Fund lifted its stake in Eaton by 1.2% in the 4th quarter. Illinois Municipal Retirement Fund now owns 49,947 shares of the industrial products company’s stock worth $12,028,000 after purchasing an additional 579 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction on 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 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction 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 directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now directly owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The disclosure for this sale can be found here. In the last three months, insiders sold 38,969 shares of company stock valued at $10,904,774. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on ETN shares. UBS Group raised their price target on shares of Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Mizuho raised their price target on shares of Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $250.00 to $300.00 in a report on Tuesday, April 2nd. Wolfe Research restated an “underperform” rating and set a $312.00 price target on shares of Eaton in a report on Monday, April 8th. Finally, Bank of America raised their price target on shares of Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $295.60.

Eaton Stock Up 1.6 %

Shares of NYSE:ETN traded up $4.81 during trading on Tuesday, hitting $312.90. The company’s stock had a trading volume of 2,781,131 shares, compared to its average volume of 1,925,753. The business has a 50 day moving average price of $302.20 and a two-hundred day moving average price of $256.66. The company has a market capitalization of $125.00 billion, a PE ratio of 39.02, a P/E/G ratio of 2.51 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.51. Eaton Co. plc has a fifty-two week low of $161.12 and a fifty-two week high of $331.47.

Eaton (NYSE:ETN) last posted its quarterly 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. The business had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.06 earnings per share. As a group, research analysts expect that Eaton Co. plc will post 10.28 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.20%. Eaton’s dividend payout ratio (DPR) is currently 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.