West Paces Advisors Inc. Has $1.28 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

West Paces Advisors Inc. decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 3.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,098 shares of the industrial products company’s stock after selling 164 shares during the period. West Paces Advisors Inc.’s holdings in Eaton were worth $1,281,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Ritholtz Wealth Management raised its holdings in shares of Eaton by 5.1% during the fourth quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock worth $1,379,000 after acquiring an additional 277 shares during the period. Pinnbrook Capital Management LP bought a new stake in shares of Eaton during the 4th quarter worth about $15,109,000. Congress Wealth Management LLC DE boosted its holdings in shares of Eaton by 8.1% during the 4th quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company’s stock worth $18,479,000 after buying an additional 5,725 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Eaton by 30.5% during the 4th quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock worth $8,205,000 after buying an additional 7,964 shares during the period. Finally, Weiss Asset Management LP bought a new stake in Eaton in the 4th quarter valued at about $1,001,000. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

ETN traded down $7.49 during trading on Wednesday, reaching $315.27. 1,836,513 shares of the company traded hands, compared to its average volume of 2,019,856. The firm has a fifty day simple moving average of $324.95 and a 200 day simple moving average of $291.47. Eaton Co. plc has a 12-month low of $191.82 and a 12-month high of $345.19. 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 company has a market cap of $126.04 billion, a P/E ratio of 37.22, a PEG ratio of 2.70 and a beta of 1.04.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $5.91 billion. During the same period in the previous year, the firm earned $1.88 earnings per share. Eaton’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities analysts forecast that Eaton Co. plc will post 10.56 EPS for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were issued a $0.94 dividend. The ex-dividend date was Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.19%. Eaton’s payout ratio is currently 44.39%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $250.00 to $300.00 in a report on Tuesday, April 2nd. Argus raised their price target on shares of Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Wolfe Research restated an “underperform” rating and issued a $312.00 price target on shares of Eaton in a report on Monday, April 8th. Mizuho reissued a “buy” rating and set a $355.00 price target (up from $340.00) on shares of Eaton in a research report on Wednesday, May 1st. Finally, HSBC lifted their price objective on shares of Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $314.27.

Insider Buying and Selling at Eaton

In other news, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total transaction of $801,725.44. Following the sale, the insider now owns 5,086 shares in the company, valued at $1,687,738.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is owned by insiders.

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.