Azzad Asset Management Inc. ADV Has $3.64 Million Position in Eaton Co. plc (NYSE:ETN)

Azzad Asset Management Inc. ADV grew its position in Eaton Co. plc (NYSE:ETN) by 1.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,632 shares of the industrial products company’s stock after purchasing an additional 195 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Eaton were worth $3,637,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Atwood & Palmer Inc. grew its stake in Eaton by 142.9% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after buying an additional 50 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in Eaton during the 4th quarter valued at $25,000. Clear Investment Research LLC bought a new position in Eaton in the 4th quarter valued at $29,000. Valued Wealth Advisors LLC acquired a new position in Eaton in the fourth quarter worth $35,000. Finally, Chilton Capital Management LLC bought a new stake in shares of Eaton during the fourth quarter worth $35,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 1.9 %

Shares of ETN stock traded up $5.88 on Wednesday, hitting $319.16. 479,281 shares of the stock were exchanged, compared to its average volume of 2,015,716. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $345.19. The firm has a market capitalization of $127.60 billion, a P/E ratio of 37.65, a price-to-earnings-growth ratio of 2.64 and a beta of 1.02. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average of $325.44 and a 200 day moving average of $294.18.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, beating 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 company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.88 earnings per share. Equities analysts anticipate that Eaton Co. plc will post 10.55 EPS for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were given a $0.94 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.18%. Eaton’s payout ratio is 44.39%.

Insider Transactions at Eaton

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ETN shares. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $286.00 to $371.00 in a research report on Friday, April 5th. Wolfe Research reiterated an “underperform” rating and set a $312.00 price target on shares of Eaton in a research report on Monday, April 8th. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $250.00 to $300.00 in a report on Tuesday, April 2nd. HSBC lifted their target price on shares of Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Finally, Bank of America increased their price target on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $318.06.

Eaton Company 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.