Kingsview Wealth Management LLC Has $4.73 Million Holdings in Eaton Co. plc (NYSE:ETN)

Kingsview Wealth Management LLC raised its position in Eaton Co. plc (NYSE:ETNFree Report) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,632 shares of the industrial products company’s stock after buying an additional 1,090 shares during the period. Kingsview Wealth Management LLC’s holdings in Eaton were worth $4,728,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its position in Eaton by 3.3% in the 4th quarter. Meeder Asset Management Inc. now owns 1,315 shares of the industrial products company’s stock worth $317,000 after purchasing an additional 42 shares during the last quarter. Telemus Capital LLC lifted its stake in shares of Eaton by 1.0% during the fourth quarter. Telemus Capital LLC now owns 4,111 shares of the industrial products company’s stock valued at $990,000 after acquiring an additional 42 shares during the period. Amarillo National Bank increased its position in Eaton by 3.5% in the fourth quarter. Amarillo National Bank now owns 1,270 shares of the industrial products company’s stock worth $306,000 after purchasing an additional 43 shares during the period. Monument Capital Management raised its holdings in Eaton by 1.9% during the 4th quarter. Monument Capital Management now owns 2,415 shares of the industrial products company’s stock worth $582,000 after purchasing an additional 44 shares during the last quarter. Finally, Red Spruce Capital LLC lifted its position in Eaton by 0.3% during the 4th quarter. Red Spruce Capital LLC now owns 17,522 shares of the industrial products company’s stock valued at $4,220,000 after purchasing an additional 45 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Eaton

In other news, insider Peter Denk sold 1,731 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction 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 approximately $1,593,380.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Peter Denk sold 1,731 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction that occurred on 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 sale, the insider now directly 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. Insiders sold 17,174 shares of company stock valued at $5,098,000 in the last ninety days. 0.53% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Argus boosted their price target on shares of Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Evercore ISI lifted 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 increased their target price on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. UBS Group boosted their target price on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Bank of America upped their price target on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Read Our Latest Analysis on Eaton

Eaton Stock Up 0.0 %

NYSE ETN traded up $0.06 during trading hours on Friday, reaching $330.24. 1,881,539 shares of the company’s stock were exchanged, compared to its average volume of 2,429,416. The company’s 50-day moving average is $316.38 and its two-hundred day moving average is $271.09. Eaton Co. plc has a one year low of $167.33 and a one year high of $338.88. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. The company has a market capitalization of $132.03 billion, a price-to-earnings ratio of 38.99, a price-to-earnings-growth ratio of 2.60 and a beta of 1.06.

Eaton (NYSE:ETNGet Free Report) last issued its quarterly earnings results 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. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the business earned $1.88 EPS. On average, analysts forecast that Eaton Co. plc will post 10.51 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.14%. Eaton’s dividend payout ratio is currently 44.39%.

Eaton Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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