Unique Wealth LLC Boosts Stock Position in Eaton Co. plc (NYSE:ETN)

Unique Wealth LLC boosted its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 27.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,535 shares of the industrial products company's stock after acquiring an additional 1,187 shares during the quarter. Unique Wealth LLC's holdings in Eaton were worth $1,505,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ETN. Brighton Jones LLC lifted its holdings in shares of Eaton by 1.4% during the 4th quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock valued at $1,109,000 after buying an additional 45 shares during the period. Revolve Wealth Partners LLC increased its stake in Eaton by 17.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock worth $303,000 after buying an additional 136 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in Eaton by 5.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 29,023 shares of the industrial products company's stock valued at $9,632,000 after buying an additional 1,436 shares in the last quarter. Stratos Wealth Advisors LLC grew its holdings in Eaton by 23.6% during the 4th quarter. Stratos Wealth Advisors LLC now owns 1,406 shares of the industrial products company's stock valued at $467,000 after buying an additional 268 shares in the last quarter. Finally, Hager Investment Management Services LLC purchased a new position in shares of Eaton in the 4th quarter worth $38,000. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Michael Yelton sold 2,120 shares of the company'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 sale, the insider now owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Arnold sold 103,486 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the sale, the insider now directly owns 490,208 shares of the company's stock, valued at approximately $158,214,632. This represents a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock worth $49,622,894 in the last 90 days. Insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on ETN shares. JPMorgan Chase & Co. lifted their price target on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Jefferies Financial Group decreased their price target on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $355.00 price target on shares of Eaton in a research note on Monday, May 5th. Evercore ISI lifted their price objective on shares of Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Finally, KeyCorp lifted their price target on shares of Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and a consensus price target of $367.83.

Eaton Trading Down 0.2%

NYSE ETN opened at $326.50 on Friday. The company has a market capitalization of $127.76 billion, a PE ratio of 34.37, a P/E/G ratio of 2.64 and a beta of 1.16. The company has a fifty day moving average of $297.01 and a 200 day moving average of $316.86. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99. 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 (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The company's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.40 earnings per share. Research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.27%. Eaton's dividend payout ratio (DPR) is presently 41.98%.

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.

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