Alpha Omega Wealth Management LLC Has $4.59 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Alpha Omega Wealth Management LLC lessened its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 12.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,873 shares of the industrial products company's stock after selling 2,448 shares during the quarter. Alpha Omega Wealth Management LLC's holdings in Eaton were worth $4,587,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ETN. Bearing Point Capital LLC purchased a new stake in shares of Eaton during the 4th quarter valued at $2,713,000. Strategic Financial Concepts LLC acquired a new stake in shares of Eaton in the fourth quarter valued at about $38,000. Kennebec Savings Bank increased its stake in Eaton by 5.4% during the 1st quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company's stock worth $738,000 after buying an additional 139 shares during the period. American National Bank & Trust lifted its holdings in Eaton by 5.4% in the 1st quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company's stock worth $855,000 after buying an additional 162 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its position in 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 valued at $1,117,000 after buying an additional 1,074 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Stock Performance

Shares of ETN traded up $5.24 during mid-day trading on Thursday, reaching $330.95. 872,571 shares of the company's stock traded hands, compared to its average volume of 2,636,422. The business's 50-day moving average price is $301.79 and its 200-day moving average price is $315.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a market capitalization of $129.50 billion, a P/E ratio of 34.84, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.70 by $0.02. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The firm had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter in the previous year, the company earned $2.40 earnings per share. The firm's quarterly 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 disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a dividend of $1.04 per share. The ex-dividend date was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.26%. Eaton's dividend payout ratio (DPR) is presently 41.98%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. BNP Paribas Exane initiated coverage on Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target on the stock. Wells Fargo & Company reiterated an "overweight" rating and set a $355.00 target price on shares of Eaton in a research note on Monday, May 5th. KeyCorp lifted their price target on shares of Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Royal Bank of Canada lifted their target price on Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Finally, Jefferies Financial Group dropped 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. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $368.78.

Insider Transactions at Eaton

In related news, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction that occurred on 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 approximately $1,004,014.34. The trade was a 38.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the completion of the sale, the insider now owns 490,208 shares of the company's stock, valued at $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock valued at $49,622,894 in the last three months. 0.30% of the stock is currently owned by corporate insiders.

Eaton Company 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.