RMR Wealth Builders Has $415,000 Position in Eaton Co. plc (NYSE:ETN)

RMR Wealth Builders trimmed its position in shares of Eaton Co. plc (NYSE:ETN) by 2.6% during the 1st quarter, HoldingsChannel reports. The fund owned 1,527 shares of the industrial products company’s stock after selling 40 shares during the quarter. RMR Wealth Builders’ holdings in Eaton were worth $415,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of ETN. Brighton Jones LLC increased its holdings in Eaton by 1.4% in the 4th quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company’s stock valued at $1,109,000 after buying an additional 45 shares during the period. Revolve Wealth Partners LLC raised its position in Eaton by 17.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company’s stock worth $303,000 after purchasing an additional 136 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in Eaton during the fourth quarter valued at approximately $65,000. Van ECK Associates Corp bought a new stake in shares of Eaton in the 4th quarter valued at approximately $22,022,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its holdings in shares of Eaton by 46.9% in the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 3,365 shares of the industrial products company’s stock worth $1,117,000 after buying an additional 1,074 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of NYSE:ETN opened at $323.26 on Friday. The stock has a market capitalization of $126.49 billion, a P/E ratio of 34.03, a P/E/G ratio of 2.64 and a beta of 1.16. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. The business has a 50-day moving average price of $304.79 and a two-hundred day moving average price of $315.02.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.02. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same period in the prior year, the business posted $2.40 earnings per share. Eaton’s revenue was up 7.3% compared to the same quarter last year. Equities analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.29%. The ex-dividend date was Monday, May 5th. Eaton’s payout ratio is 41.98%.

Insider Transactions at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the sale, the insider now directly owns 3,382 shares in the company, valued at $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the transaction, the insider now owns 490,208 shares in the company, valued at $158,214,632. This trade represents a 17.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ETN has been the topic of a number of analyst reports. Jefferies Financial Group lowered their price target on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. BNP Paribas Exane initiated coverage on shares of Eaton in a research report on Thursday, May 15th. They set an “outperform” rating and a $380.00 target price for the company. Evercore ISI lifted their target price on shares of Eaton from $326.00 to $349.00 and gave the company an “in-line” rating in a research note on Monday, May 19th. Barclays increased their price target on Eaton from $306.00 to $323.00 and gave the stock an “equal weight” rating in a research report on Monday, June 9th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $355.00 price objective on shares of Eaton in a research note on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Eaton has an average rating of “Moderate Buy” and a consensus price target of $368.78.

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.