ZRC Wealth Management LLC Sells 77 Shares of Eaton Co. plc (NYSE:ETN)

ZRC Wealth Management LLC cut its position in shares of Eaton Co. plc (NYSE:ETN) by 4.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,803 shares of the industrial products company’s stock after selling 77 shares during the quarter. ZRC Wealth Management LLC’s holdings in Eaton were worth $564,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Tennessee Valley Asset Management Partners acquired a new stake in Eaton in the 4th quarter valued at $25,000. Atwood & Palmer Inc. raised 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 worth $27,000 after acquiring an additional 50 shares during the last quarter. Clear Investment Research LLC bought a new position in Eaton in the 4th quarter valued at about $29,000. Redmont Wealth Advisors LLC purchased a new position in Eaton during the 1st quarter worth $33,000. Finally, Valued Wealth Advisors LLC bought a new position in shares of Eaton in the fourth quarter valued at approximately $35,000. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, insider Peter Denk sold 2,416 shares of the 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 transaction, the insider now owns 5,086 shares of the company’s stock, valued at $1,687,738.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Berenberg Bank upped their price target on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Mizuho restated a “buy” rating and set a $355.00 price target (up from $340.00) on shares of Eaton in a research report on Wednesday, May 1st. 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. Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Finally, Argus upped their target price 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’s stock. According to data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average target price of $318.06.

Eaton Trading Up 1.6 %

NYSE ETN traded up $5.14 during trading hours on Thursday, hitting $318.42. 1,122,952 shares of the company were exchanged, compared to its average volume of 2,060,987. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. Eaton Co. plc has a 52 week low of $191.82 and a 52 week high of $345.19. The stock has a market cap of $127.30 billion, a PE ratio of 37.59, a price-to-earnings-growth ratio of 2.64 and a beta of 1.02. The stock has a 50-day moving average price of $325.43 and a 200 day moving average price of $294.35.

Eaton (NYSE:ETN) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. The firm had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.88 EPS. Analysts forecast that Eaton Co. plc will post 10.55 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is presently 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.