Kingswood Wealth Advisors LLC Purchases 7,296 Shares of Eaton Corporation, PLC $ETN

Key Points

• Kingswood Wealth Advisors LLC increased its stake in Eaton (NYSE:ETN) by 41.0%, adding 7,296 shares to hold 25,072 shares valued at roughly $7.99 million.
• Analyst sentiment is largely positive, with MarketBeat showing a consensus rating of Moderate Buy and an average target price of $396.50, while several firms have recently issued buy upgrades or raised targets.
• Eaton reported quarterly EPS of $3.23 on $7.06 billion in revenue, analysts expect about 13.31 EPS for the fiscal year, and the company declared a quarterly dividend of $1.10 (annualized $4.40) for a ~1.1% yield.

Kingswood Wealth Advisors LLC raised its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 41.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,072 shares of the industrial products company's stock after acquiring an additional 7,296 shares during the period. Kingswood Wealth Advisors LLC's holdings in Eaton were worth $7,986,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Eagle Bay Advisors LLC bought a new stake in Eaton during the fourth quarter valued at about $29,000. WFA of San Diego LLC bought a new stake in shares of Eaton in the second quarter valued at about $36,000. Imprint Wealth LLC bought a new stake in shares of Eaton in the third quarter valued at about $39,000. Redmont Wealth Advisors LLC bought a new stake in shares of Eaton in the third quarter valued at about $40,000. Finally, Grey Fox Wealth Advisors LLC bought a new stake in shares of Eaton in the third quarter valued at about $70,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on ETN. HSBC upgraded shares of Eaton from a "hold" rating to a "buy" rating and set a $400.00 target price for the company in a research note on Friday, January 16th. Wells Fargo & Company reduced their target price on shares of Eaton from $370.00 to $350.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 1st. Weiss Ratings reiterated a "buy (b-)" rating on shares of Eaton in a research note on Wednesday, January 21st. Jefferies Financial Group began coverage on shares of Eaton in a research note on Monday, March 16th. They issued a "buy" rating and a $430.00 target price for the company. Finally, UBS Group reiterated a "neutral" rating and issued a $360.00 target price (down from $440.00) on shares of Eaton in a research note on Sunday, January 4th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $396.50.

Eaton Stock Performance

NYSE:ETN opened at $410.36 on Wednesday. Eaton Corporation, PLC has a 12-month low of $262.41 and a 12-month high of $418.38. The company has a quick ratio of 0.81, a current ratio of 1.32 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $159.21 billion, a PE ratio of 39.23, a price-to-earnings-growth ratio of 2.81 and a beta of 1.17. The firm has a 50-day moving average price of $373.36 and a 200 day moving average price of $357.85.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The industrial products company reported $3.23 earnings per share (EPS) for the quarter. Eaton had a net margin of 14.89% and a return on equity of 25.00%. The firm had revenue of $7.06 billion during the quarter. Research analysts anticipate that Eaton Corporation, PLC will post 13.31 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 8th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $4.40 annualized dividend and a dividend yield of 1.1%. Eaton's dividend payout ratio (DPR) is presently 42.07%.

Insider Buying and Selling at Eaton

In other news, insider Sternadt Paulo Ruiz sold 10,707 shares of the firm's stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $390.26, for a total transaction of $4,178,513.82. Following the completion of the sale, the insider owned 27,729 shares of the company's stock, valued at approximately $10,821,519.54. This trade represents a 27.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.10% of the company's stock.

About Eaton

Eaton NYSE: ETN is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company's offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.

Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.

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