Redwood Wealth Management Group LLC Purchases 152 Shares of Eaton Corporation, PLC (NYSE:ETN)

Redwood Wealth Management Group LLC increased its holdings in Eaton Corporation, PLC (NYSE:ETN) by 9.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,761 shares of the industrial products company’s stock after purchasing an additional 152 shares during the period. Redwood Wealth Management Group LLC’s holdings in Eaton were worth $479,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Capital A Wealth Management LLC purchased a new stake in shares of Eaton during the 4th quarter valued at about $26,000. Flagship Wealth Advisors LLC bought a new stake in Eaton during the fourth quarter worth approximately $27,000. Noble Wealth Management PBC purchased a new stake in Eaton during the fourth quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Eaton in the 4th quarter valued at approximately $33,000. Finally, Vermillion Wealth Management Inc. purchased a new position in shares of Eaton in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

ETN opened at $333.92 on Thursday. The company has a market capitalization of $130.66 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 2.56 and a beta of 1.16. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $379.99. The business’s fifty day simple moving average is $308.45 and its 200-day simple moving average is $314.22.

Eaton (NYSE:ETN) last issued its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.02. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.26 billion. During the same period in the prior year, the business earned $2.40 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. On average, equities research analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.25%. Eaton’s dividend payout ratio (DPR) is presently 41.98%.

Insider Activity

In other news, insider Craig Arnold sold 103,486 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the sale, the insider now directly owns 490,208 shares in the company, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the transaction, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53% 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 company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ETN shares. Morgan Stanley lowered their price target on Eaton from $385.00 to $375.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Jefferies Financial Group lowered their target price on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Wall Street Zen upgraded shares of Eaton from a “hold” rating to a “buy” rating in a report on Sunday, May 18th. 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. Finally, Evercore ISI upped 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. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and a consensus target price of $368.78.

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.