4,204 Shares in Eaton Corporation, PLC $ETN Purchased by Aventura Private Wealth LLC

Aventura Private Wealth LLC acquired a new stake in Eaton Corporation, PLC (NYSE:ETN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,204 shares of the industrial products company’s stock, valued at approximately $1,339,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. WFA of San Diego LLC acquired a new position in shares of Eaton during the 2nd quarter worth $36,000. Imprint Wealth LLC acquired a new stake in shares of Eaton in the third quarter valued at about $39,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Eaton in the third quarter valued at about $40,000. Grey Fox Wealth Advisors LLC purchased a new stake in Eaton during the third quarter worth about $70,000. Finally, Cloud Capital Management LLC acquired a new position in Eaton during the third quarter worth about $72,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Down 0.9%

Shares of ETN stock opened at $357.01 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 1.32. The stock has a market cap of $138.51 billion, a PE ratio of 34.13, a price-to-earnings-growth ratio of 2.48 and a beta of 1.17. The business’s fifty day moving average is $359.32 and its 200-day moving average is $355.60. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $408.45.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, February 26th. The industrial products company reported $3.23 earnings per share for the quarter. Eaton had a return on equity of 25.00% and a net margin of 14.89%. Equities analysts expect that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $4.40 annualized dividend and a dividend yield of 1.2%. This is a boost from Eaton’s previous quarterly dividend of $1.04. Eaton’s dividend payout ratio is 42.07%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. HSBC raised Eaton from a “hold” rating to a “buy” rating and set a $400.00 price objective for the company in a research note on Friday, January 16th. Wells Fargo & Company upped their target price on Eaton from $340.00 to $370.00 and gave the company an “equal weight” rating in a report on Wednesday, February 4th. Morgan Stanley restated an “overweight” rating and issued a $425.00 price target on shares of Eaton in a research report on Wednesday, February 4th. UBS Group reaffirmed a “neutral” rating and set a $360.00 price target (down from $440.00) on shares of Eaton in a research note on Sunday, January 4th. Finally, Jefferies Financial Group initiated coverage on shares of Eaton in a research note on Monday, March 16th. They issued a “buy” rating and a $430.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $395.11.

Insider Activity

In other news, insider Sternadt Paulo Ruiz sold 10,707 shares of the business’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $390.26, for a total transaction of $4,178,513.82. Following the sale, the insider directly owned 27,729 shares of the company’s stock, valued at $10,821,519.54. The trade was a 27.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is owned by insiders.

Eaton Company Profile

Eaton (NYSE: ETN) is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company’s offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.

Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.