River Wealth Advisors LLC lifted its holdings in shares of Eaton Co. PLC (NYSE:ETN) by 15.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 17,460 shares of the industrial products company’s stock after purchasing an additional 2,348 shares during the period. River Wealth Advisors LLC’s holdings in Eaton were worth $1,407,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc boosted its position in shares of Eaton by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 31,765,973 shares of the industrial products company’s stock worth $2,755,064,000 after acquiring an additional 150,330 shares in the last quarter. BlackRock Inc. boosted its position in shares of Eaton by 6.7% during the 4th quarter. BlackRock Inc. now owns 31,171,908 shares of the industrial products company’s stock worth $2,140,263,000 after acquiring an additional 1,955,724 shares in the last quarter. Boston Partners boosted its position in shares of Eaton by 40.9% during the 1st quarter. Boston Partners now owns 10,269,144 shares of the industrial products company’s stock worth $827,282,000 after acquiring an additional 2,978,615 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Eaton by 8,639.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,674,949 shares of the industrial products company’s stock worth $141,000 after acquiring an additional 9,564,240 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Eaton during the 4th quarter worth approximately $524,126,000. 80.07% of the stock is currently owned by institutional investors.

Several analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Eaton from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. Bank of America lowered shares of Eaton from a “buy” rating to a “neutral” rating and set a $88.00 price target on the stock. in a research report on Thursday, April 4th. Morgan Stanley set a $82.00 price target on shares of Eaton and gave the stock a “hold” rating in a research report on Saturday, February 2nd. Robert W. Baird set a $88.00 price target on shares of Eaton and gave the stock a “buy” rating in a research report on Friday, January 25th. Finally, Wells Fargo & Co increased their price target on shares of Eaton from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $86.79.

Eaton stock traded up $0.46 during mid-day trading on Thursday, reaching $80.00. The company had a trading volume of 22,282 shares, compared to its average volume of 2,505,689. Eaton Co. PLC has a fifty-two week low of $64.46 and a fifty-two week high of $89.46. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.47 and a quick ratio of 0.92. The firm has a market capitalization of $33.21 billion, a P/E ratio of 14.84, a P/E/G ratio of 1.52 and a beta of 1.47.

Eaton (NYSE:ETN) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Eaton had a net margin of 10.06% and a return on equity of 14.56%. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.38 billion. During the same quarter last year, the business posted $1.10 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts expect that Eaton Co. PLC will post 5.89 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be given a $0.71 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 3.55%. Eaton’s dividend payout ratio is currently 52.69%.

In other news, insider Richard H. Fearon sold 1,335 shares of Eaton stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $80.19, for a total transaction of $107,053.65. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nandakumar Cheruvatath sold 9,992 shares of Eaton stock in a transaction on Monday, March 11th. The stock was sold at an average price of $80.20, for a total transaction of $801,358.40. Following the transaction, the insider now owns 14,569 shares in the company, valued at approximately $1,168,433.80. The disclosure for this sale can be found here. Insiders sold 30,589 shares of company stock worth $2,465,553 in the last 90 days. Company insiders own 0.70% of the company’s stock.

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Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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