Leo Wealth LLC Buys Shares of 1,340 Eaton Co. plc (NYSE:ETN)

Leo Wealth LLC purchased a new stake in Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,340 shares of the industrial products company’s stock, valued at approximately $323,000.

Other large investors also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners acquired a new position in Eaton during the 4th quarter valued at about $25,000. Clear Investment Research LLC bought a new position in shares of Eaton in the fourth quarter valued at approximately $29,000. Valued Wealth Advisors LLC acquired a new position in shares of Eaton in the fourth quarter worth about $35,000. Chilton Capital Management LLC purchased a new position in shares of Eaton in the fourth quarter worth approximately $35,000. Finally, Frazier Financial Advisors LLC acquired a new position in Eaton in the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of Eaton stock traded up $6.31 on Monday, reaching $325.33. The stock had a trading volume of 2,549,944 shares, compared to its average volume of 2,022,441. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. The business’s 50-day moving average price is $323.99 and its two-hundred day moving average price is $286.75. The stock has a market cap of $130.07 billion, a P/E ratio of 38.30, a price-to-earnings-growth ratio of 2.67 and a beta of 1.04. Eaton Co. plc has a fifty-two week low of $189.26 and a fifty-two week high of $345.19.

Eaton (NYSE:ETN) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the prior year, the company earned $1.88 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts forecast that Eaton Co. plc will post 10.56 EPS for the current year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were paid a $0.94 dividend. The ex-dividend date was Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.16%. Eaton’s payout ratio is 44.39%.

Analysts Set New Price Targets

ETN has been the subject of several recent analyst reports. HSBC raised their target price on Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Evercore ISI increased their price target on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Bank of America boosted their price objective on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Berenberg Bank increased their target price on shares of Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Wolfe Research reaffirmed an “underperform” rating and issued a $312.00 price target on shares of Eaton in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.27.

Insider Buying and Selling

In other news, insider Peter Denk sold 2,416 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total transaction of $801,725.44. Following the completion of the transaction, the insider now directly owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is owned by company insiders.

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.