Bogart Wealth LLC increased its holdings in shares of Eaton Co. PLC (NYSE:ETN) by 8.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,470 shares of the industrial products company’s stock after acquiring an additional 2,189 shares during the quarter. Eaton comprises 1.1% of Bogart Wealth LLC’s portfolio, making the stock its 25th biggest holding. Bogart Wealth LLC’s holdings in Eaton were worth $2,212,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Montecito Bank & Trust bought a new stake in shares of Eaton during the 1st quarter valued at $379,000. BigSur Wealth Management LLC bought a new stake in shares of Eaton during the 1st quarter valued at $212,000. Intl Fcstone Inc. bought a new stake in shares of Eaton during the 1st quarter valued at $236,000. Dumont & Blake Investment Advisors LLC bought a new stake in shares of Eaton during the 1st quarter valued at $275,000. Finally, CenturyLink Investment Management Co lifted its position in shares of Eaton by 11.0% during the 1st quarter. CenturyLink Investment Management Co now owns 20,463 shares of the industrial products company’s stock valued at $1,648,000 after acquiring an additional 2,033 shares during the period. Institutional investors and hedge funds own 78.14% of the company’s stock.
In other Eaton news, insider Curtis J. Hutchins sold 37,625 shares of the stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $76.02, for a total value of $2,860,252.50. Following the transaction, the insider now owns 15,872 shares in the company, valued at $1,206,589.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joao V. Faria sold 5,000 shares of the stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $76.73, for a total value of $383,650.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,214 shares of company stock worth $5,709,455. Corporate insiders own 0.70% of the company’s stock.
NYSE ETN traded down $0.27 during trading hours on Monday, hitting $83.61. 841,341 shares of the company’s stock were exchanged, compared to its average volume of 2,586,513. Eaton Co. PLC has a 1-year low of $64.46 and a 1-year high of $89.46. The stock has a market capitalization of $35.20 billion, a P/E ratio of 15.51, a P/E/G ratio of 1.53 and a beta of 1.48. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.47 and a quick ratio of 0.93.
Eaton (NYSE:ETN) last released its earnings results on Thursday, January 31st. The industrial products company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.43 by $0.03. Eaton had a return on equity of 14.06% and a net margin of 9.93%. The business had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.42 billion. Equities analysts expect that Eaton Co. PLC will post 5.86 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Saturday, March 9th were issued a $0.71 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.84 annualized dividend and a yield of 3.40%. Eaton’s payout ratio is currently 52.69%.
A number of analysts have recently weighed in on the company. Bank of America downgraded Eaton from a “buy” rating to a “neutral” rating and set a $88.00 target price for the company. in a research report on Thursday, April 4th. Vertical Research upgraded Eaton from a “hold” rating to a “buy” rating in a research report on Monday, March 4th. Wells Fargo & Co upped their price objective on 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. Robert W. Baird set a $89.00 price objective on Eaton and gave the stock a “buy” rating in a research report on Saturday, February 2nd. Finally, Morgan Stanley set a $82.00 price objective on Eaton and gave the stock a “hold” rating in a research report on Saturday, February 2nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Eaton has an average rating of “Hold” and an average target price of $86.80.
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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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