Eaton Co. plc (NYSE:ETN) Stock Position Lessened by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC decreased its position in Eaton Co. plc (NYSE:ETN) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,006 shares of the industrial products company’s stock after selling 463 shares during the quarter. Eaton comprises approximately 1.0% of Alpha Omega Wealth Management LLC’s holdings, making the stock its 21st largest position. Alpha Omega Wealth Management LLC’s holdings in Eaton were worth $6,022,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ETN. Tennessee Valley Asset Management Partners acquired a new stake in shares of Eaton in the fourth quarter valued at $25,000. PCA Investment Advisory Services Inc. acquired a new stake in shares of Eaton in the second quarter valued at $27,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of Eaton in the fourth quarter valued at $30,000. Global Trust Asset Management LLC acquired a new stake in shares of Eaton in the third quarter valued at $32,000. Finally, Valued Wealth Advisors LLC purchased a new stake in shares of Eaton during the fourth quarter valued at $35,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Price Performance

ETN traded up $0.07 during trading on Wednesday, hitting $315.35. The company’s stock had a trading volume of 1,547,499 shares, compared to its average volume of 2,162,500. The firm’s 50 day moving average price is $298.74 and its two-hundred day moving average price is $253.13. The stock has a market capitalization of $125.98 billion, a price-to-earnings ratio of 39.32, a price-to-earnings-growth ratio of 2.62 and a beta of 1.07. Eaton Co. plc has a 12 month low of $161.12 and a 12 month high of $331.47. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43.

Eaton (NYSE:ETN) last released its earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.47 by $0.08. The company had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the firm earned $2.06 EPS. Sell-side analysts forecast that Eaton Co. plc will post 10.25 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 11th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Friday, March 8th. This is a boost from Eaton’s previous quarterly dividend of $0.86. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.19%. Eaton’s payout ratio is 46.88%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ETN. Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Evercore ISI increased their price objective on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Bank of America increased their price objective on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. Citigroup increased their price objective on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Wells Fargo & Company increased their price objective on Eaton from $220.00 to $257.00 and gave the company an “equal weight” rating in a report on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $295.60.

Insider Buying and Selling

In other Eaton news, insider Peter Denk sold 1,731 shares of Eaton stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, the insider now directly owns 5,514 shares in the company, valued at $1,593,380.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Eaton news, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the transaction, the insider now directly owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the transaction, 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. Insiders sold a total of 38,969 shares of company stock valued at $10,904,774 over the last three months. Company 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.