Wells Trecaso Financial Group LLC lifted its position in shares of Eaton Co. plc (NYSE: ETN – Get Rating) by 7.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 54,791 shares of the industrial products company stock after buying an additional 3,931 shares during the period. Eaton accounts for approximately 3.7% of Wells Trecaso Financial Group LLC’s portfolio, making the stock its 6th largest holding. Wells Trecaso Financial Group LLC’s holdings in Eaton were worth $ 8,315,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. AdvisorNet Financial Inc boosted its position in shares of Eaton by 4.5% in the first quarter. AdvisorNet Financial Inc now owns 3,098 shares of the industrial products company stock worth $ 470,000 after acquiring an additional 132 shares during the last quarter. WC Walker & Associates Inc. increased its holdings in shares of Eaton by 1.4% during the 1st quarter. WC Walker & Associates Inc. now owns 24,146 shares of the industrial products company stock worth $ 3,423,000 after buying an additional 325 shares during the last quarter. Rosenberg Matthew Hamilton raised its position in shares of Eaton by 54.6% in the 1st quarter. Rosenberg Matthew Hamilton now owns 779 shares of the industrial products company stock worth $ 118,000 after buying an additional 275 shares during the period. Reuter James Wealth Management LLC grew its position in Eaton by 23.0% during the first quarter. Reuter James Wealth Management LLC now owns 1,672 shares of the industrial products company stock valued at $ 254,000 after acquiring an additional 313 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its stake in Eaton by 1.5% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 10,884 shares of the industrial products company stock worth $ 1,652,000 after acquiring an additional 159 shares during the last quarter. Hedge funds and other institutional investors own 79.10% of the company stock.
In related news, insider Boise April Miller sold 12,283 shares of the business’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $ 138.66, for a total transaction of $ 1,703,160.78. Following the transaction, the insider now owns 11,435 shares of the company stock, valued at $ 1,585,577.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Eaton from $ 180.00 to $ 170.00 and set an “overweight” rating for the company in a research report on Tuesday, May 31st. William Blair reissued a “market perform” rating on shares of Eaton in a research report on Thursday, March 3rd. The Goldman Sachs Group decreased their target price on Eaton from $ 175.00 to $ 146.00 and set a “buy” rating for the company in a research report on Thursday. Barclays lowered Eaton from an “equal weight” rating to an “underweight” rating and set a $ 120.00 price target on the stock. in a research report on Tuesday, May 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Eaton from $ 176.00 to $ 175.00 and set a “buy” rating for the company in a research report on Thursday, April 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $ 168.87.
Shares of ETN stock opened at $ 131.83 on Friday. The company has a market capitalization of $ 52.60 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.59 and a current ratio of 0.99. The stock’s 50 day simple moving average is $ 139.47 and its 200 day simple moving average is $ 151.30. Eaton Co. plc has a twelve month low of $ 123.69 and a twelve month high of $ 175.72.
Eaton (NYSE: ETN – Get Rating) last released its earnings results on Tuesday, May 3rd. The industrial products company reported $ 1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $ 1.60 by $ 0.02. Eaton had a net margin of 11.21% and a return on equity of 16.92%. The firm had revenue of $ 4.84 billion during the quarter, compared to analyst estimates of $ 4.78 billion. During the same quarter in the previous year, the business earned $ 1.44 EPS. The business’s revenue was up 3.2% on a year-over-year basis. On average, analysts forecast that Eaton Co. plc will post 7.49 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 27th. Stockholders of record on Friday, May 13th were issued a dividend of $ 0.81 per share. The ex-dividend date was Thursday, May 12th. This represents a $ 3.24 dividend on an annualized basis and a dividend yield of 2.46%. Eaton’s dividend payout ratio (DPR) is presently 58.59%.
About Eaton: (Get Rating)
Eaton Corporation plc operates as a power management company worldwide. The company 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.
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