Ashton Thomas Private Wealth LLC Increases Stock Holdings in Eaton Co. plc (NYSE:ETN)

Ashton Thomas Private Wealth LLC raised its holdings in shares of Eaton Co. plc (NYSE:ETN) by 4.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 25,786 shares of the industrial products company’s stock after buying an additional 1,110 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Eaton were worth $8,557,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ETN. Wetzel Investment Advisors Inc. boosted its position in Eaton by 0.9% during the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after purchasing an additional 28 shares during the period. Westmount Partners LLC raised its stake in shares of Eaton by 3.1% in the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock worth $327,000 after buying an additional 30 shares in the last quarter. Signal Advisors Wealth LLC raised its stake in shares of Eaton by 3.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after buying an additional 30 shares in the last quarter. Lantz Financial LLC raised its stake in shares of Eaton by 4.8% in the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock worth $219,000 after buying an additional 30 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of Eaton by 2.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock worth $513,000 after buying an additional 32 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ETN shares. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a report on Tuesday, January 28th. UBS Group started coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Evercore ISI decreased their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Bank of America lifted their target price on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Barclays decreased their target price on Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a report on Monday. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $362.58.

Eaton Stock Performance

Shares of NYSE ETN opened at $277.03 on Friday. The business’s 50-day moving average price is $322.11 and its two-hundred day moving average price is $331.80. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The company has a market capitalization of $108.59 billion, a P/E ratio of 29.16, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period in the prior year, the company earned $2.55 EPS. Analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be given a $1.04 dividend. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.50%. This is a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is currently 43.79%.

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.