RWA Wealth Partners LLC Purchases 3,393 Shares of Eaton Co. plc (NYSE:ETN)

RWA Wealth Partners LLC increased its position in shares of Eaton Co. plc (NYSE:ETN) by 34.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,110 shares of the industrial products company’s stock after buying an additional 3,393 shares during the quarter. RWA Wealth Partners LLC’s holdings in Eaton were worth $3,157,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ETN. Douglas Lane & Associates LLC bought a new position in Eaton in the third quarter valued at approximately $276,000. DAVENPORT & Co LLC grew its stake in Eaton by 6.6% in the third quarter. DAVENPORT & Co LLC now owns 23,890 shares of the industrial products company’s stock valued at $5,096,000 after purchasing an additional 1,480 shares in the last quarter. Avior Wealth Management LLC grew its stake in Eaton by 69.5% in the third quarter. Avior Wealth Management LLC now owns 222 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 91 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in Eaton by 12.7% in the third quarter. GHP Investment Advisors Inc. now owns 664 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 75 shares in the last quarter. Finally, Meridian Wealth Management LLC grew its stake in Eaton by 17.2% in the third quarter. Meridian Wealth Management LLC now owns 1,379 shares of the industrial products company’s stock valued at $294,000 after purchasing an additional 202 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Up 1.6 %

Shares of NYSE:ETN opened at $312.90 on Wednesday. The company has a market capitalization of $125.00 billion, a price-to-earnings ratio of 39.02, a P/E/G ratio of 2.55 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. The business’s 50-day moving average is $302.20 and its 200-day moving average is $256.66. Eaton Co. plc has a 1 year low of $161.12 and a 1 year high of $331.47.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. The company had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.06 EPS. Equities research analysts predict that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.20%. Eaton’s dividend payout ratio is 46.88%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ETN shares. Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Evercore ISI raised their price objective on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Berenberg Bank raised their price objective on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Citigroup lifted their price target on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, UBS Group lifted their price target on Eaton from $255.00 to $305.00 and gave the company 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 assigned a buy rating to the stock. According to MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $295.60.

Insider Buying and Selling

In related news, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the transaction, the insider now directly owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the completion of the sale, the insider now directly owns 630 shares of the company’s stock, valued at approximately $171,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $20,244,140.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,969 shares of company stock valued at $10,904,774. 0.33% of the stock is owned by company insiders.

Eaton Company 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.