Cascade Wealth Advisors Inc Makes New Investment in Eaton Co. plc (NYSE:ETN)

Cascade Wealth Advisors Inc purchased a new position in shares of Eaton Co. plc (NYSE:ETN) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 798 shares of the industrial products company’s stock, valued at approximately $254,000.

A number of other institutional investors also recently bought and sold shares of the business. Tennessee Valley Asset Management Partners purchased a new stake in shares of Eaton in the 4th quarter valued at about $25,000. Atwood & Palmer Inc. lifted its holdings in shares of Eaton by 142.9% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 50 shares during the last quarter. Clear Investment Research LLC purchased a new stake in shares of Eaton in the 4th quarter valued at about $29,000. Valued Wealth Advisors LLC purchased a new stake in shares of Eaton in the 4th quarter valued at about $35,000. Finally, Chilton Capital Management LLC purchased a new stake in shares of Eaton in the 4th quarter valued at about $35,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Peter Denk sold 2,416 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the sale, the insider now owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.53% of the company’s stock.

Eaton Stock Performance

ETN opened at $315.23 on Thursday. The stock has a market cap of $126.03 billion, a P/E ratio of 37.22, a P/E/G ratio of 2.70 and a beta of 1.04. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05. The stock’s 50 day simple moving average is $324.95 and its 200 day simple moving average is $291.47. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19.

Eaton (NYSE:ETN) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. The business had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.88 EPS. As a group, equities analysts anticipate that Eaton Co. plc will post 10.56 EPS for the current fiscal year.

Eaton Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. HSBC boosted their target price on Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Argus upped their price objective on Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. The Goldman Sachs Group upped their price objective on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Bank of America upped their price objective on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $312.00 price objective on shares of Eaton in a research note on Monday, April 8th. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

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.