Valeo Financial Advisors LLC Purchases 1,007 Shares of Eaton Co. plc (NYSE:ETN)

Valeo Financial Advisors LLC boosted its position in Eaton Co. plc (NYSE:ETN) by 9.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 11,430 shares of the industrial products company’s stock after buying an additional 1,007 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Eaton were worth $3,574,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ritholtz Wealth Management raised its stake in shares of Eaton by 5.1% during the fourth quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock worth $1,379,000 after buying an additional 277 shares during the last quarter. Pinnbrook Capital Management LP bought a new stake in Eaton in the fourth quarter valued at approximately $15,109,000. Congress Wealth Management LLC DE raised its holdings in Eaton by 8.1% in the fourth quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company’s stock worth $18,479,000 after purchasing an additional 5,725 shares during the period. Pacer Advisors Inc. boosted its position in shares of Eaton by 30.5% during the fourth quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock worth $8,205,000 after purchasing an additional 7,964 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new position in shares of Eaton in the 4th quarter valued at $1,001,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Eaton

In related news, insider Peter Denk sold 2,416 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total value of $801,725.44. Following the transaction, the insider now owns 5,086 shares in the company, valued at approximately $1,687,738.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ETN. Raymond James initiated coverage on Eaton in a research report on Friday, June 28th. They set an “outperform” rating and a $375.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Berenberg Bank increased their price objective on shares of Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Royal Bank of Canada raised shares of Eaton from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $286.00 to $371.00 in a research report on Friday, April 5th. Finally, Wolfe Research reiterated an “underperform” rating and set a $312.00 target price on shares of Eaton in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and a consensus price target of $318.06.

Eaton Stock Up 1.6 %

Shares of NYSE:ETN traded up $5.14 during trading on Wednesday, hitting $318.42. 1,122,704 shares of the company were exchanged, compared to its average volume of 2,020,783. The stock has a market cap of $127.30 billion, a price-to-earnings ratio of 37.65, a P/E/G ratio of 2.64 and a beta of 1.02. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $345.19. The firm has a fifty day moving average price of $325.44 and a two-hundred day moving average price of $294.18.

Eaton (NYSE:ETN) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.12. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the previous year, the business earned $1.88 EPS. Eaton’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, research analysts anticipate that Eaton Co. plc will post 10.55 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, May 3rd. Eaton’s payout ratio is presently 44.39%.

About Eaton

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.