Spire Wealth Management Acquires 5,932 Shares of Eaton Co. plc (NYSE:ETN)

Spire Wealth Management boosted its stake in Eaton Co. plc (NYSE:ETN) by 66.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,914 shares of the industrial products company’s stock after purchasing an additional 5,932 shares during the quarter. Spire Wealth Management’s holdings in Eaton were worth $3,648,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ETN. Vanguard Group Inc. increased its stake in shares of Eaton by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 36,336,041 shares of the industrial products company’s stock worth $7,749,751,000 after purchasing an additional 176,900 shares during the last quarter. FMR LLC lifted its holdings in shares of Eaton by 36.0% during the 3rd quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock worth $4,248,960,000 after acquiring an additional 5,270,331 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Eaton by 2.2% in the 3rd quarter. Northern Trust Corp now owns 5,009,435 shares of the industrial products company’s stock worth $1,068,412,000 after purchasing an additional 109,775 shares in the last quarter. Raymond James & Associates grew its position in Eaton by 3.8% during the fourth quarter. Raymond James & Associates now owns 3,739,725 shares of the industrial products company’s stock valued at $900,600,000 after acquiring an additional 138,465 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in Eaton by 97.5% during the 3rd quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock valued at $396,767,000 after buying an additional 918,422 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Eaton

In related news, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the transaction, the insider now owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the sale, the insider now owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Peter Denk sold 1,731 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, the insider now directly owns 5,514 shares in the company, valued at $1,593,380.58. The disclosure for this sale can be found here. Insiders sold 38,969 shares of company stock valued at $10,904,774 over the last 90 days. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. UBS Group raised their price objective on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. 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 report on Wednesday, March 6th. Citigroup upped their price target on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Mizuho restated a “buy” rating and set a $355.00 target price (up previously from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Eaton Trading Down 0.0 %

Shares of Eaton stock traded down $0.03 on Tuesday, hitting $327.21. 138,245 shares of the company traded hands, compared to its average volume of 2,006,649. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The company has a market cap of $130.82 billion, a PE ratio of 38.65, a PEG ratio of 2.54 and a beta of 1.06. The stock’s 50 day moving average price is $309.54 and its 200-day moving average price is $263.61. Eaton Co. plc has a 52 week low of $165.24 and a 52 week high of $333.05.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.12. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. Eaton’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $1.88 earnings per share. Equities research analysts predict that Eaton Co. plc will post 10.45 EPS for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s payout ratio is currently 44.39%.

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.