Relyea Zuckerberg Hanson LLC Buys 79 Shares of Eaton Co. plc (NYSE:ETN)

Relyea Zuckerberg Hanson LLC lifted its holdings in Eaton Co. plc (NYSE:ETN) by 6.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,255 shares of the industrial products company’s stock after acquiring an additional 79 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in Eaton were worth $341,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Capital A Wealth Management LLC acquired a new stake in shares of Eaton in the 4th quarter valued at about $26,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton in the 4th quarter valued at about $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton in the 4th quarter valued at about $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Eaton in the 4th quarter valued at about $33,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Eaton in the 4th quarter valued at about $33,000. 82.97% of the stock is owned by institutional investors.

Eaton Stock Performance

NYSE:ETN opened at $323.26 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The business has a fifty day simple moving average of $304.79 and a two-hundred day simple moving average of $315.02. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99. The company has a market capitalization of $126.49 billion, a P/E ratio of 34.03, a P/E/G ratio of 2.64 and a beta of 1.16.

Eaton (NYSE:ETN) last released its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.70 by $0.02. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same period last year, the business posted $2.40 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Monday, May 5th. Eaton’s dividend payout ratio is currently 41.98%.

Insider Transactions at Eaton

In other news, insider Craig Arnold sold 103,486 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the transaction, the insider now directly owns 490,208 shares of the company’s stock, valued at $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Yelton sold 2,120 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the transaction, the insider now directly owns 3,382 shares of the company’s stock, valued at $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock valued at $49,622,894 over the last three months. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the subject of several research reports. Evercore ISI raised their target price on Eaton from $326.00 to $349.00 and gave the company an “in-line” rating in a research note on Monday, May 19th. Wells Fargo & Company reissued an “overweight” rating and issued a $355.00 price objective on shares of Eaton in a research note on Monday, May 5th. KeyCorp increased their price objective on Eaton from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. BNP Paribas Exane began coverage on Eaton in a research note on Thursday, May 15th. They issued an “outperform” rating and a $380.00 price objective for the company. Finally, Jefferies Financial Group lowered their price objective on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $368.78.

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.