LVW Advisors LLC Sells 82 Shares of Eaton Co. plc (NYSE:ETN)

Posted by Defense World Staff on Mar 27th, 2023

LVW Advisors LLC lessened its stake in Eaton Co. plc (NYSE:ETN – Get Rating) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,123 shares of the industrial products company’s stock after selling 82 shares during the period. LVW Advisors LLC’s holdings in Eaton were worth $490,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Horan Securities Inc. grew its position in Eaton by 228.6% in the 4th quarter. Horan Securities Inc. now owns 161 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 112 shares during the period. Alpha Paradigm Partners LLC purchased a new position in shares of Eaton during the 2nd quarter worth $31,000. TimeScale Financial Inc. boosted its stake in shares of Eaton by 102.5% during the 3rd quarter. TimeScale Financial Inc. now owns 243 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 123 shares during the last quarter. Ten Capital Wealth Advisors LLC purchased a new position in shares of Eaton during the 3rd quarter worth $32,000. Finally, Align Wealth Management LLC purchased a new position in shares of Eaton during the 4th quarter worth $37,000. Institutional investors own 80.19% of the company’s stock.

Eaton Price Performance

Eaton stock opened at $163.64 on Monday. The stock has a market cap of $65.21 billion, a price-to-earnings ratio of 26.61, a price-to-earnings-growth ratio of 1.80 and a beta of 1.13. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.38 and a quick ratio of 0.84. Eaton Co. plc has a 1 year low of $122.50 and a 1 year high of $178.75. The firm has a 50-day moving average of $167.48 and a two-hundred day moving average of $157.15.

Eaton (NYSE:ETN – Get Rating) last released its quarterly earnings data on Wednesday, February 8th. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.01. The company had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.34 billion. Eaton had a net margin of 11.86% and a return on equity of 18.31%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.72 EPS. On average, research analysts forecast that Eaton Co. plc will post 8.24 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Monday, March 6th were given a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Friday, March 3rd. This is a boost from Eaton’s previous quarterly dividend of $0.81. Eaton’s dividend payout ratio is presently 55.94%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Bank of America lifted their price target on shares of Eaton from $180.00 to $200.00 in a research note on Wednesday, March 8th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Eaton from $175.00 to $188.00 in a research note on Thursday, February 9th. Royal Bank of Canada lifted their price target on shares of Eaton from $149.00 to $161.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 9th. Wells Fargo & Company lifted their target price on shares of Eaton from $169.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, February 9th. Finally, UBS Group lifted their target price on shares of Eaton from $173.00 to $197.00 in a research note on Tuesday, March 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.00.

Insider Transactions at Eaton

In other Eaton news, insider Brian S. Brickhouse sold 21,347 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $176.97, for a total value of $3,777,778.59. Following the completion of the sale, the insider now directly owns 15,905 shares in the company, valued at $2,814,707.85. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Joao V. Faria sold 2,000 shares of the firm’s stock in a transaction on Friday, February 10th. The stock was sold at an average price of $169.00, for a total value of $338,000.00. Following the completion of the sale, the insider now owns 67,166 shares of the company’s stock, valued at approximately $11,351,054. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian S. Brickhouse sold 21,347 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $176.97, for a total value of $3,777,778.59. Following the completion of the sale, the insider now directly owns 15,905 shares of the company’s stock, valued at approximately $2,814,707.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,377 shares of company stock valued at $5,864,193. Company insiders own 0.56% of the company’s stock.

Eaton Company Profile

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Eaton Corp. Plc is a power management company, which provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through the following segments: Electrical Americas and Electrical Global, Aerospace, Vehicle, and eMobility. The Electrical Americas and Electrical Global segments engage in sales contracts for electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and service.