Fifth Third Wealth Advisors LLC Has $7.84 Million Stake in Eaton Co. plc (NYSE:ETN)

Fifth Third Wealth Advisors LLC raised its position in Eaton Co. plc (NYSE:ETN - Free Report) by 8.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,823 shares of the industrial products company's stock after purchasing an additional 2,189 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Eaton were worth $7,835,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC purchased a new stake in shares of Eaton in the 4th quarter valued at approximately $26,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Eaton in the fourth quarter valued at $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton in the fourth quarter worth $30,000. Murphy & Mullick Capital Management Corp purchased a new stake in Eaton in the 4th quarter worth about $33,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in Eaton during the 4th quarter worth about $33,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

NYSE:ETN traded up $0.95 during mid-day trading on Thursday, hitting $328.03. 482,682 shares of the company's stock traded hands, compared to its average volume of 2,647,050. The firm has a market capitalization of $128.36 billion, a price-to-earnings ratio of 34.53, 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. The firm has a 50 day moving average of $295.92 and a two-hundred day moving average of $317.07. 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 (NYSE:ETN - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same period last year, the business posted $2.40 EPS. The business's quarterly revenue was up 7.3% on a year-over-year basis. On average, equities analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.27%. Eaton's payout ratio is 41.98%.

Insider Buying and Selling

In other news, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the transaction, the insider now directly owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This trade represents a 38.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Arnold sold 51,054 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total value of $15,593,423.22. Following the completion of the sale, the insider now owns 489,444 shares in the company, valued at approximately $149,490,880.92. This represents a 9.45% 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 over the last ninety days. 0.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ETN shares. Wells Fargo & Company reissued an "overweight" rating and issued a $355.00 price target on shares of Eaton in a research report on Monday, May 5th. BNP Paribas assumed coverage on shares of Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. KeyCorp upped 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 price objective on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Finally, Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research report on Sunday, May 18th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $367.83.

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.