Annex Advisory Services LLC Purchases 1,169 Shares of Eaton Co. plc (NYSE:ETN)

Annex Advisory Services LLC grew its position in Eaton Co. plc (NYSE:ETN - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,233 shares of the industrial products company's stock after purchasing an additional 1,169 shares during the period. Annex Advisory Services LLC's holdings in Eaton were worth $9,370,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ETN. Edgestream Partners L.P. raised its holdings in shares of Eaton by 98.5% during the second quarter. Edgestream Partners L.P. now owns 1,989 shares of the industrial products company's stock worth $624,000 after acquiring an additional 987 shares during the period. Seven Eight Capital LP acquired a new stake in Eaton in the 2nd quarter valued at $270,000. Benjamin F. Edwards & Company Inc. increased its stake in Eaton by 1.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 10,045 shares of the industrial products company's stock valued at $3,150,000 after buying an additional 116 shares during the last quarter. King Luther Capital Management Corp increased its stake in Eaton by 19.4% in the 2nd quarter. King Luther Capital Management Corp now owns 3,327 shares of the industrial products company's stock valued at $1,043,000 after buying an additional 541 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in Eaton by 4.7% in the 2nd quarter. Pacer Advisors Inc. now owns 32,897 shares of the industrial products company's stock valued at $10,315,000 after buying an additional 1,483 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Price Performance

Shares of NYSE:ETN traded up $1.35 during midday trading on Monday, hitting $346.54. The stock had a trading volume of 2,454,294 shares, compared to its average volume of 1,724,943. The company's 50-day moving average price is $354.32 and its 200-day moving average price is $329.97. The company has a market capitalization of $136.95 billion, a P/E ratio of 36.87, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06. Eaton Co. plc has a fifty-two week low of $236.20 and a fifty-two week high of $379.99. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.47 EPS. As a group, equities research analysts predict that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Monday, November 4th. Eaton's dividend payout ratio is 40.00%.

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 61,569 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares of the company's stock, valued at $182,780,769.20. The trade was a 10.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregory R. Page sold 10,000 shares of the business's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now directly 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 disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock worth $27,660,117 in the last three months. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ETN shares. Barclays lifted their price target on shares of Eaton from $320.00 to $353.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Evercore ISI downgraded shares of Eaton from an "outperform" rating to an "inline" rating and lifted their price objective for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Wells Fargo & Company decreased their price objective on shares of Eaton from $365.00 to $350.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 7th. Sanford C. Bernstein started coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an "outperform" rating and a $382.00 price objective for the company. Finally, Mizuho lifted their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $368.89.

About Eaton

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.