Wealthspire Advisors LLC Has $2.26 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Wealthspire Advisors LLC trimmed its position in Eaton Co. plc (NYSE:ETN) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,395 shares of the industrial products company’s stock after selling 254 shares during the quarter. Wealthspire Advisors LLC’s holdings in Eaton were worth $2,263,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ETN. Tennessee Valley Asset Management Partners bought a new stake in shares of Eaton during the 4th quarter worth about $25,000. Valued Wealth Advisors LLC acquired a new position in shares of Eaton in the fourth quarter valued at approximately $35,000. Chilton Capital Management LLC bought a new position in shares of Eaton during the fourth quarter worth approximately $35,000. Authentikos Wealth Advisory LLC acquired a new position in Eaton in the 3rd quarter valued at $39,000. Finally, Fortitude Family Office LLC bought a new position in Eaton during the 4th quarter worth $46,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ETN shares. Berenberg Bank upped their price target on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Evercore ISI boosted their price target on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $286.00 to $371.00 in a report on Friday, April 5th. Mizuho reaffirmed a “buy” rating and issued a $355.00 price target (up previously from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. Finally, Citigroup increased their price objective on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Eaton Price Performance

ETN traded up $3.00 on Thursday, reaching $333.40. The stock had a trading volume of 1,487,142 shares, compared to its average volume of 2,012,587. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $133.29 billion, a price-to-earnings ratio of 39.35, a price-to-earnings-growth ratio of 2.54 and a beta of 1.06. Eaton Co. plc has a fifty-two week low of $165.24 and a fifty-two week high of $333.45. The firm has a 50-day moving average of $311.28 and a 200-day moving average of $265.01.

Eaton (NYSE:ETN) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the firm posted $1.88 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Eaton Co. plc will post 10.45 EPS for the current year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.13%. Eaton’s dividend payout ratio is 44.39%.

Insider Buying and Selling

In other news, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the sale, the insider now owns 630 shares of the company’s stock, valued at $171,360. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Eaton news, insider Peter Denk sold 1,731 shares of the company’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 sale, the insider now owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction dated Tuesday, February 13th. The stock was 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 directly 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 21,635 shares of company stock valued at $6,311,392 in the last three months. Insiders own 0.33% of the company’s stock.

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.