Waverly Advisors LLC Has $3.84 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Waverly Advisors LLC raised its position in Eaton Co. plc (NYSE:ETN - Free Report) by 50.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,558 shares of the industrial products company's stock after acquiring an additional 3,897 shares during the period. Waverly Advisors LLC's holdings in Eaton were worth $3,836,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ETN. Flagship Wealth Advisors LLC acquired a new position in shares of Eaton in the 4th quarter worth approximately $27,000. Noble Wealth Management PBC acquired a new position in shares of Eaton in the 4th quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Eaton in the 4th quarter worth approximately $33,000. Activest Wealth Management raised its holdings in shares of Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock worth $34,000 after buying an additional 87 shares in the last quarter. Finally, Knuff & Co LLC acquired a new position in shares of Eaton in the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Buying and Selling

In other Eaton news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider now owns 3,382 shares of the company's stock, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction dated 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 directly owns 489,444 shares in the company, valued at $149,490,880.92. This represents a 9.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ETN. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. Morgan Stanley decreased their price target on Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Royal Bank of Canada increased their price target on Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. BNP Paribas began coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. Finally, BNP Paribas Exane began coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $367.83.

Eaton Trading Up 2.1%

ETN traded up $6.68 during mid-day trading on Tuesday, reaching $327.74. The stock had a trading volume of 460,663 shares, compared to its average volume of 3,440,656. The stock has a market capitalization of $128.24 billion, a P/E ratio of 34.50, a P/E/G ratio of 2.64 and a beta of 1.14. 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 firm's fifty day simple moving average is $291.21 and its two-hundred day simple moving average is $318.44. Eaton Co. plc has a 52 week low of $231.85 and a 52 week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The firm's revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.40 EPS. On average, equities analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

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