Williams Jones Wealth Management LLC. Purchases 3,138 Shares of Eaton Co. plc (NYSE:ETN)

Williams Jones Wealth Management LLC. increased its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 432,362 shares of the industrial products company's stock after acquiring an additional 3,138 shares during the period. Eaton makes up about 1.7% of Williams Jones Wealth Management LLC.'s holdings, making the stock its 14th biggest position. Williams Jones Wealth Management LLC. owned 0.11% of Eaton worth $143,488,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Flagship Wealth Advisors LLC purchased a new position in Eaton during the fourth quarter worth about $27,000. Noble Wealth Management PBC purchased a new position in shares of Eaton during the fourth quarter worth about $30,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Eaton in the fourth quarter worth approximately $33,000. Activest Wealth Management raised its stake in Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 87 shares in the last quarter. Finally, Knuff & Co LLC bought a new stake in Eaton during the fourth quarter valued at approximately $37,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Stock Up 0.1%

Shares of NYSE ETN opened at $329.34 on Tuesday. The firm's fifty day moving average is $288.15 and its 200 day moving average is $319.43. Eaton Co. plc has a 52 week low of $231.85 and a 52 week high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The company has a market cap of $128.87 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 2.64 and a beta of 1.14.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. The firm had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.40 earnings per share. On average, equities research analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a $1.04 dividend. The ex-dividend date is 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 is currently 41.98%.

Insider Transactions at Eaton

In other 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 value of $629,364.40. Following the sale, the insider now directly owns 3,382 shares of the company's stock, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 490,208 shares in the company, valued at $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 156,660 shares of company stock worth $49,622,894. 0.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Wells Fargo & Company reissued an "overweight" rating and issued a $355.00 target price on shares of Eaton in a research note on Monday, May 5th. StockNews.com raised Eaton from a "hold" rating to a "buy" rating in a research note on Sunday. Citigroup increased their price objective on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. boosted their target price on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.

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