Arbor Wealth Advisors LLC Buys New Position in Eaton Co. plc (NYSE:ETN)

Arbor Wealth Advisors LLC purchased a new position in Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,256 shares of the industrial products company’s stock, valued at approximately $302,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners purchased a new stake in Eaton in the fourth quarter worth $25,000. Valued Wealth Advisors LLC purchased a new stake in shares of Eaton in the fourth quarter worth $35,000. Chilton Capital Management LLC purchased a new stake in shares of Eaton in the fourth quarter worth $35,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of Eaton in the third quarter worth $39,000. Finally, Legacy Financial Group LLC purchased a new stake in shares of Eaton in the third quarter worth $43,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Price Performance

Shares of Eaton stock traded up $4.81 during trading hours 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. Eaton Co. plc has a 12-month low of $161.12 and a 12-month high of $331.47. The company has a market cap of $125.00 billion, a PE ratio of 39.02, a PEG 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 (NYSE:ETN) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the previous year, the business earned $2.06 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. Analysts expect that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.20%. Eaton’s dividend payout ratio (DPR) is 46.88%.

Insider Transactions at Eaton

In other 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 value of $5,395,107.50. Following 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’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 transaction of $5,395,107.50. Following 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the sale, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,969 shares of company stock valued at $10,904,774. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Bank of America increased their target price on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Mizuho boosted their target price on Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $250.00 to $300.00 in a report on Tuesday, April 2nd. Berenberg Bank boosted their price objective on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, Citigroup raised their target price on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $295.60.

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.