Aventura Private Wealth LLC Acquires Shares of 4,204 Eaton Corporation, PLC $ETN

Aventura Private Wealth LLC bought a new position in Eaton Corporation, PLC (NYSE:ETN) in the fourth quarter, HoldingsChannel reports. The fund bought 4,204 shares of the industrial products company’s stock, valued at approximately $1,339,000.

Other hedge funds have also modified their holdings of the company. WFA of San Diego LLC acquired a new stake in Eaton during the second quarter valued at $36,000. Imprint Wealth LLC purchased a new stake in shares of Eaton during the 3rd quarter worth about $39,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Eaton during the 3rd quarter worth about $40,000. Grey Fox Wealth Advisors LLC bought a new stake in shares of Eaton in the 3rd quarter valued at approximately $70,000. Finally, Cloud Capital Management LLC acquired a new position in Eaton in the third quarter worth approximately $72,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ETN shares. JPMorgan Chase & Co. reduced their target price on shares of Eaton from $440.00 to $406.00 and set an “overweight” rating for the company in a research note on Friday, January 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $407.00 price objective on shares of Eaton in a research note on Wednesday, February 4th. Barclays upped their price objective on shares of Eaton from $350.00 to $354.00 and gave the stock an “equal weight” rating in a report on Monday, March 16th. HSBC upgraded Eaton from a “hold” rating to a “buy” rating and set a $400.00 target price on the stock in a report on Friday, January 16th. Finally, Wolfe Research upgraded Eaton from a “peer perform” rating to an “outperform” rating and set a $413.00 price target for the company in a research note on Tuesday, December 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $395.11.

Insiders Place Their Bets

In other news, insider Sternadt Paulo Ruiz sold 10,707 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $390.26, for a total transaction of $4,178,513.82. Following the completion of the transaction, the insider owned 27,729 shares of the company’s stock, valued at approximately $10,821,519.54. This trade represents a 27.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is owned by insiders.

Eaton Stock Performance

NYSE:ETN opened at $357.01 on Friday. The company has a market cap of $138.51 billion, a price-to-earnings ratio of 34.13, a PEG ratio of 2.48 and a beta of 1.17. Eaton Corporation, PLC has a fifty-two week low of $231.85 and a fifty-two week high of $408.45. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 1.32. The stock has a fifty day moving average price of $359.32 and a 200-day moving average price of $355.60.

Eaton (NYSE:ETN) last released its earnings results on Thursday, February 26th. The industrial products company reported $3.23 earnings per share for the quarter. Eaton had a return on equity of 25.00% and a net margin of 14.89%. As a group, equities analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Tuesday, March 10th will be given a dividend of $1.10 per share. The ex-dividend date is Tuesday, March 10th. This represents a $4.40 annualized dividend and a yield of 1.2%. This is a boost from Eaton’s previous quarterly dividend of $1.04. Eaton’s dividend payout ratio is 42.07%.

Eaton Company Profile

Eaton (NYSE: ETN) is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company’s offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.

Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.