Refined Wealth Management Invests $200,000 in Eaton Co. plc (NYSE:ETN)

Refined Wealth Management acquired a new position in shares of Eaton Co. plc (NYSE:ETN) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 640 shares of the industrial products company’s stock, valued at approximately $200,000. Eaton accounts for about 0.1% of Refined Wealth Management’s holdings, making the stock its 25th biggest position.

Several other large investors also recently modified their holdings of ETN. Tennessee Valley Asset Management Partners purchased a new position in Eaton during the 4th quarter worth $25,000. Atwood & Palmer Inc. raised its stake in 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 acquiring an additional 50 shares during the period. Clear Investment Research LLC bought a new stake in Eaton in the 4th quarter valued at about $29,000. Valued Wealth Advisors LLC purchased a new position in Eaton during the 4th quarter valued at about $35,000. Finally, Chilton Capital Management LLC purchased a new position in Eaton during the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. HSBC boosted their price objective on Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. The Goldman Sachs Group upped their target price on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a report on Friday, March 15th. Raymond James initiated coverage on Eaton in a report on Friday. They set an “outperform” rating and a $375.00 target price for the company. Mizuho restated a “buy” rating and set a $355.00 target price (up previously from $340.00) on shares of Eaton in a report on Wednesday, May 1st. Finally, Argus increased their price objective on Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $318.06.

Insider Buying and Selling at Eaton

In other news, insider Peter Denk sold 2,416 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the transaction, the insider now owns 5,086 shares of the company’s stock, valued at $1,687,738.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is owned by corporate insiders.

Eaton Stock Performance

Shares of Eaton stock traded up $0.91 during trading on Tuesday, hitting $313.28. 1,933,172 shares of the company’s stock traded hands, compared to its average volume of 2,027,908. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19. The stock has a market capitalization of $125.25 billion, a P/E ratio of 36.77, a PEG ratio of 2.64 and a beta of 1.02. The business has a 50-day simple moving average of $325.44 and a 200-day simple moving average of $293.64.

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

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Friday, May 3rd. Eaton’s dividend payout ratio is 44.39%.

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.