Atria Investments Inc Acquires 2,560 Shares of Eaton Co. plc (NYSE:ETN)

Atria Investments Inc lifted its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,975 shares of the industrial products company's stock after purchasing an additional 2,560 shares during the quarter. Atria Investments Inc's holdings in Eaton were worth $18,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. raised its position in Eaton by 9.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 251,983 shares of the industrial products company's stock valued at $83,517,000 after acquiring an additional 22,637 shares in the last quarter. Kanawha Capital Management LLC bought a new position in Eaton during the third quarter valued at approximately $207,000. Hazlett Burt & Watson Inc. raised its position in Eaton by 36.7% during the third quarter. Hazlett Burt & Watson Inc. now owns 451 shares of the industrial products company's stock valued at $149,000 after acquiring an additional 121 shares in the last quarter. Impax Asset Management Group plc bought a new position in Eaton during the third quarter valued at approximately $2,347,000. Finally, FSM Wealth Advisors LLC bought a new position in Eaton during the third quarter valued at approximately $216,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Eaton news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction on Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now owns 43,203 shares in the company, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.53% of the company's stock.

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Eaton Stock Performance

ETN traded up $7.74 during trading on Friday, reaching $285.29. 4,533,919 shares of the company's stock were exchanged, compared to its average volume of 3,707,284. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average price of $321.13 and a 200 day moving average price of $331.71. The company has a market capitalization of $111.83 billion, a P/E ratio of 30.03, a PEG ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping analysts' consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the prior year, the company earned $2.55 EPS. As a group, analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.46%. This is an increase from Eaton's previous quarterly dividend of $0.94. Eaton's payout ratio is currently 43.79%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Melius lowered shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 price objective on the stock. in a research report on Tuesday, January 28th. Jefferies Financial Group lifted their price target on shares of Eaton from $400.00 to $440.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Melius Research reissued a "hold" rating and issued a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. UBS Group assumed coverage on shares of Eaton in a research report on Wednesday, November 13th. They issued a "buy" rating and a $431.00 price target on the stock. Finally, Citigroup dropped their price target on shares of Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $362.58.

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.