Eaton Co. PLC (ETN) Shares Bought by Everence Capital Management Inc.

Everence Capital Management Inc. raised its stake in Eaton Co. PLC (NYSE:ETN) by 15.6% in the 1st quarter, Holdings Channel reports. The firm owned 10,576 shares of the industrial products company’s stock after acquiring an additional 1,426 shares during the period. Everence Capital Management Inc.’s holdings in Eaton were worth $852,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Gravity Wealth Inc. bought a new stake in shares of Eaton during the 1st quarter valued at about $25,000. Highwater Wealth Management LLC bought a new stake in shares of Eaton during the 4th quarter valued at about $26,000. Destination Wealth Management grew its position in shares of Eaton by 103.2% during the 1st quarter. Destination Wealth Management now owns 319 shares of the industrial products company’s stock valued at $26,000 after buying an additional 162 shares during the last quarter. Athena Capital Advisors LLC bought a new stake in shares of Eaton during the 4th quarter valued at about $27,000. Finally, Bremer Trust National Association bought a new stake in shares of Eaton during the 4th quarter valued at about $29,000. 78.48% of the stock is owned by institutional investors.

Eaton stock opened at $78.50 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.47 and a debt-to-equity ratio of 0.42. The stock has a market cap of $34.25 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 1.57 and a beta of 1.47. Eaton Co. PLC has a 52-week low of $64.46 and a 52-week high of $89.46.

Eaton (NYSE:ETN) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The firm had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.38 billion. Eaton had a net margin of 10.06% and a return on equity of 14.56%. Eaton’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.10 EPS. Equities analysts forecast that Eaton Co. PLC will post 5.89 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Thursday, May 2nd. Eaton’s payout ratio is 52.69%.

A number of equities research analysts recently weighed in on ETN shares. Zacks Investment Research downgraded shares of Eaton from a “hold” rating to a “sell” rating in a research report on Wednesday, January 16th. Robert W. Baird set a $88.00 price objective on shares of Eaton and gave the company a “buy” rating in a research report on Friday, January 25th. Morgan Stanley set a $82.00 price objective on shares of Eaton and gave the company a “hold” rating in a research report on Saturday, February 2nd. Wells Fargo & Co boosted their price objective on shares of Eaton from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. They noted that the move was a valuation call. Finally, Vertical Research raised shares of Eaton from a “hold” rating to a “buy” rating in a research report on Monday, March 4th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. Eaton presently has a consensus rating of “Hold” and a consensus price target of $86.79.

In other Eaton news, insider Heath B. Monesmith sold 7,167 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $81.25, for a total transaction of $582,318.75. Following the completion of the transaction, the insider now directly owns 26,344 shares of the company’s stock, valued at approximately $2,140,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Curtis J. Hutchins sold 12,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $80.60, for a total transaction of $967,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 30,589 shares of company stock valued at $2,465,553 over the last three months. 0.70% of the stock is currently owned by company insiders.

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About Eaton

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

Read More: Price to Earnings Ratio (PE)

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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