EverSource Wealth Advisors LLC Has $392,000 Position in Eaton Co. plc (NYSE:ETN)

EverSource Wealth Advisors LLC increased its position in Eaton Co. plc (NYSE:ETN) by 14.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,230 shares of the industrial products company’s stock after buying an additional 158 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Eaton were worth $392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ETN. Ballentine Partners LLC increased its position in Eaton by 3.6% during the 4th quarter. Ballentine Partners LLC now owns 3,984 shares of the industrial products company’s stock valued at $959,000 after purchasing an additional 137 shares during the period. Clear Creek Financial Management LLC bought a new position in shares of Eaton in the 4th quarter worth $215,000. Breakwater Capital Group lifted its holdings in shares of Eaton by 4.3% in the 4th quarter. Breakwater Capital Group now owns 2,253 shares of the industrial products company’s stock worth $550,000 after purchasing an additional 93 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Eaton by 21,664.8% in the 4th quarter. International Assets Investment Management LLC now owns 316,242 shares of the industrial products company’s stock worth $76,157,000 after purchasing an additional 314,789 shares in the last quarter. Finally, Arvest Trust Co. N A bought a new position in shares of Eaton in the 4th quarter worth $298,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Argus increased their target price on Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Barclays lifted their target price on Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research note on Friday. Mizuho reiterated a “buy” rating and set a $355.00 target price (up from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. Raymond James initiated coverage on Eaton in a research note on Friday, June 28th. They set an “outperform” rating and a $375.00 target price on the stock. Finally, Wells Fargo & Company decreased their price objective on Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $326.53.

Insider Activity

In other news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total transaction of $801,725.44. Following the completion of the sale, the insider now owns 5,086 shares in the company, valued at approximately $1,687,738.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Eaton Price Performance

ETN stock traded down $17.62 during mid-day trading on Friday, reaching $280.26. 4,528,035 shares of the company traded hands, compared to its average volume of 2,834,101. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.05. The company has a market capitalization of $112.05 billion, a P/E ratio of 33.09, a P/E/G ratio of 2.47 and a beta of 1.02. Eaton Co. plc has a 52-week low of $191.82 and a 52-week high of $345.19. The company has a fifty day moving average price of $317.93 and a 200-day moving average price of $305.04.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. As a group, analysts anticipate that Eaton Co. plc will post 10.66 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.34%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

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.