Eaton Co. plc (NYSE:ETN) Shares Purchased by EP Wealth Advisors LLC

by · The Cerbat Gem

EP Wealth Advisors LLC raised its holdings in Eaton Co. plc (NYSE:ETN – Free Report) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,829 shares of the industrial products company’s stock after acquiring an additional 749 shares during the quarter. EP Wealth Advisors LLC’s holdings in Eaton were worth $10,231,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in ETN. Colonial Trust Co SC grew its position in Eaton by 2.7% during the fourth quarter. Colonial Trust Co SC now owns 23,745 shares of the industrial products company’s stock worth $7,880,000 after buying an additional 621 shares during the period. Crestline Management LP grew its holdings in shares of Eaton by 2,502.4% in the 4th quarter. Crestline Management LP now owns 57,200 shares of the industrial products company’s stock worth $18,983,000 after acquiring an additional 55,002 shares during the period. Capital Advantage Inc. purchased a new position in Eaton in the 4th quarter valued at approximately $1,096,000. Cetera Investment Advisers raised its holdings in Eaton by 0.5% during the fourth quarter. Cetera Investment Advisers now owns 144,036 shares of the industrial products company’s stock worth $47,801,000 after purchasing an additional 695 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in Eaton by 2.8% during the fourth quarter. Captrust Financial Advisors now owns 55,503 shares of the industrial products company’s stock worth $18,420,000 after purchasing an additional 1,537 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Price Performance

Shares of Eaton stock opened at $302.31 on Thursday. The stock has a market capitalization of $118.44 billion, a P/E ratio of 31.82, a PEG ratio of 2.64 and a beta of 1.14. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The business’s fifty day moving average price is $281.59 and its 200 day moving average price is $320.81. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99.

Eaton (NYSE:ETN – Get Free Report) last issued its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.40 EPS. As a group, research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Monday, May 5th. Eaton’s dividend payout ratio is presently 41.98%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a research note on Tuesday, January 28th. Evercore ISI lowered their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. StockNews.com upgraded Eaton from a “hold” rating to a “buy” rating in a research report on Wednesday, April 30th. Morgan Stanley lowered their target price on Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on Eaton from $289.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $361.13.

Get Our Latest Research Report on Eaton

Insider Transactions at Eaton

In other news, insider Michael Yelton sold 2,120 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the transaction, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. This represents a 38.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.30% of the company’s stock.

About Eaton

(Free Report)

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.

Featured Stories