Wealthfront Advisers LLC lifted its stake in Eaton Co. PLC (NYSE:ETN) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,230 shares of the industrial products company’s stock after purchasing an additional 172 shares during the quarter. Wealthfront Advisers LLC’s holdings in Eaton were worth $582,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. O Shares Investment Advisers LLC raised its holdings in Eaton by 1.4% in the 1st quarter. O Shares Investment Advisers LLC now owns 15,374 shares of the industrial products company’s stock worth $1,239,000 after acquiring an additional 212 shares during the last quarter. SSI Investment Management Inc. purchased a new position in Eaton in the 1st quarter worth approximately $201,000. Aspire Private Capital LLC purchased a new position in Eaton in the 1st quarter worth approximately $82,000. The Manufacturers Life Insurance Company raised its holdings in Eaton by 101.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 425,049 shares of the industrial products company’s stock worth $34,242,000 after acquiring an additional 213,846 shares during the last quarter. Finally, Qtron Investments LLC purchased a new position in Eaton in the 1st quarter worth approximately $457,000. 76.71% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Joao V. Faria sold 4,301 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $80.00, for a total transaction of $344,080.00. Following the completion of the sale, the insider now owns 58,688 shares of the company’s stock, valued at approximately $4,695,040. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Dorothy C. Thompson acquired 1,655 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were acquired at an average cost of $78.54 per share, with a total value of $129,983.70. The disclosure for this purchase can be found here. 0.70% of the stock is currently owned by insiders.

Shares of ETN opened at $78.37 on Friday. The firm has a market cap of $33.16 billion, a price-to-earnings ratio of 14.54, a P/E/G ratio of 1.52 and a beta of 1.46. The company has a quick ratio of 0.92, a current ratio of 1.47 and a debt-to-equity ratio of 0.42. Eaton Co. PLC has a 1-year low of $64.46 and a 1-year high of $89.46.

Eaton (NYSE:ETN) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.38 billion. Eaton had a net margin of 10.06% and a return on equity of 14.56%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.10 EPS. Sell-side analysts expect that Eaton Co. PLC will post 5.89 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were paid a dividend of $0.71 per share. The ex-dividend date was Thursday, May 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 3.62%. Eaton’s dividend payout ratio is presently 52.69%.

A number of equities analysts recently weighed in on ETN shares. Barclays restated a “sell” rating and issued a $76.00 price objective on shares of Eaton in a report on Thursday, June 6th. Vertical Research upgraded shares of Eaton from a “hold” rating to a “buy” rating in a report on Monday, March 4th. Wells Fargo & Co boosted their price objective on shares of Eaton from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. They noted that the move was a valuation call. Finally, Bank of America lowered shares of Eaton from a “buy” rating to a “neutral” rating and set a $88.00 price objective for the company. in a report on Thursday, April 4th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $87.00.

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Eaton Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

Further Reading: Quiet Period

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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