Eaton Co. plc (NYSE:ETN) Shares Purchased by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,100 shares of the industrial products company’s stock after buying an additional 275 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Eaton were worth $3,155,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ETN. Bfsg LLC purchased a new position in Eaton during the fourth quarter valued at $72,000. Harvest Fund Management Co. Ltd lifted its stake in Eaton by 41.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,693 shares of the industrial products company’s stock valued at $408,000 after buying an additional 499 shares in the last quarter. Schnieders Capital Management LLC acquired a new stake in Eaton in the 4th quarter worth about $225,000. Arbor Wealth Advisors LLC purchased a new stake in Eaton during the 4th quarter worth approximately $302,000. Finally, GAMMA Investing LLC acquired a new position in shares of Eaton during the fourth quarter valued at approximately $1,469,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

ETN has been the subject of several recent research reports. Bank of America increased their price objective on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $286.00 to $371.00 in a research report on Friday, April 5th. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Mizuho increased their price objective on shares of Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, Citigroup boosted their target price on 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $295.60.

Eaton Price Performance

Eaton stock opened at $324.30 on Monday. The company’s 50 day simple moving average is $304.82 and its 200-day simple moving average is $258.90. 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 1 year low of $162.04 and a 1 year high of $331.47. The company has a market capitalization of $129.56 billion, a price-to-earnings ratio of 40.44, a price-to-earnings-growth ratio of 2.69 and a beta of 1.07.

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. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The firm had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter last year, the firm earned $2.06 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities research analysts expect that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is 46.88%.

Insider Buying and Selling at Eaton

In other news, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the transaction, the insider now owns 630 shares of the company’s stock, valued at $171,360. 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 in the last three months. 0.53% of the stock is owned by corporate insiders.

Eaton 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.