767 Shares in Eaton Co. plc (NYSE:ETN) Acquired by Forza Wealth Management LLC

Forza Wealth Management LLC purchased a new stake in shares of Eaton Co. plc (NYSE:ETN) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 767 shares of the industrial products company’s stock, valued at approximately $240,000.

Other hedge funds also recently modified their holdings of the company. Tennessee Valley Asset Management Partners bought a new stake in Eaton in the fourth quarter worth about $25,000. Atwood & Palmer Inc. raised its holdings in shares of Eaton by 142.9% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 50 shares in the last quarter. Clear Investment Research LLC bought a new stake in shares of Eaton in the 4th quarter worth approximately $29,000. Redmont Wealth Advisors LLC bought a new stake in Eaton during the first quarter worth approximately $33,000. Finally, Valued Wealth Advisors LLC acquired a new position in Eaton in the fourth quarter worth approximately $35,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Eaton

In other Eaton news, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were 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 owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Eaton news, insider Peter Denk sold 1,731 shares of the firm’s 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 sale, the insider now owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the company’s stock in a transaction that occurred 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 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. Over the last three months, insiders sold 38,969 shares of company stock worth $10,904,774. 0.33% of the stock is owned by insiders.

Eaton Stock Up 0.8 %

ETN traded up $2.54 during midday trading on Monday, hitting $326.84. 3,151,497 shares of the company’s stock traded hands, compared to its average volume of 1,971,578. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. The company has a market cap of $130.57 billion, a PE ratio of 40.75, a price-to-earnings-growth ratio of 2.69 and a beta of 1.07. Eaton Co. plc has a one year low of $165.24 and a one year high of $331.47. The stock’s fifty day simple moving average is $305.81 and its 200-day simple moving average is $259.67.

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

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 annualized dividend and a yield of 1.15%. Eaton’s dividend payout ratio (DPR) is presently 46.88%.

Analyst Upgrades and Downgrades

ETN has been the subject of several research reports. Citigroup raised their price objective on Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Royal Bank of Canada upgraded Eaton from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $286.00 to $371.00 in a research report on Friday, April 5th. Bank of America upped their price objective on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. The Goldman Sachs Group lifted their target price on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Finally, Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $250.00 to $300.00 in a research report on Tuesday, April 2nd. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $295.60.

About Eaton

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.