Kestra Private Wealth Services LLC Acquires 448 Shares of Eaton Co. plc (NYSE:ETN)

Kestra Private Wealth Services LLC boosted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,897 shares of the industrial products company’s stock after acquiring an additional 448 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Eaton were worth $8,404,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Tennessee Valley Asset Management Partners bought a new stake in shares of Eaton in the 4th quarter valued at $25,000. Valued Wealth Advisors LLC bought a new stake in shares of Eaton in the 4th quarter valued at $35,000. Chilton Capital Management LLC bought a new stake in shares of Eaton in the 4th quarter valued at $35,000. Authentikos Wealth Advisory LLC bought a new stake in shares of Eaton in the 3rd quarter valued at $39,000. Finally, Legacy Financial Group LLC bought a new stake in shares of Eaton in the 3rd quarter valued at $43,000. 82.97% of the stock is owned by institutional investors.

Insider Activity at Eaton

In related news, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the transaction, the insider now owns 69,472 shares in the company, valued at $20,244,140.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the completion of the transaction, the insider now owns 630 shares in the company, valued at $171,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction dated 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 owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,969 shares of company stock worth $10,904,774. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ETN. Wolfe Research reaffirmed an “underperform” rating and issued a $312.00 price objective on shares of Eaton in a research note on Monday, April 8th. Bank of America boosted their target price on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Evercore ISI boosted their target price on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. UBS Group boosted their target price on shares of Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $250.00 to $300.00 in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $295.60.

Eaton Stock Down 3.7 %

Shares of ETN stock traded down $11.96 on Tuesday, hitting $314.55. The stock had a trading volume of 2,258,253 shares, compared to its average volume of 1,972,146. The business has a 50 day moving average of $305.81 and a 200 day moving average of $259.67. The stock has a market cap of $125.66 billion, a price-to-earnings ratio of 40.75, a price-to-earnings-growth ratio of 2.69 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. Eaton Co. plc has a 12-month low of $165.24 and a 12-month high of $333.06.

Eaton (NYSE:ETN) last announced 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 the consensus estimate of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.06 earnings per share. As a group, analysts expect that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a dividend of $0.94 per share. The ex-dividend date is Friday, May 3rd. This represents a $3.76 annualized dividend and a yield of 1.20%. Eaton’s payout ratio is currently 46.88%.

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.