Glass Wealth Management Co LLC Raises Holdings in Eaton Co. plc (NYSE:ETN)

Glass Wealth Management Co LLC lifted its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 27.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,975 shares of the industrial products company's stock after buying an additional 1,070 shares during the period. Glass Wealth Management Co LLC's holdings in Eaton were worth $1,651,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. boosted its position in Eaton by 9.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 251,983 shares of the industrial products company's stock worth $83,517,000 after purchasing an additional 22,637 shares during the last quarter. Kanawha Capital Management LLC purchased a new position in Eaton in the third quarter worth $207,000. Hazlett Burt & Watson Inc. boosted its position in Eaton by 36.7% in the third quarter. Hazlett Burt & Watson Inc. now owns 451 shares of the industrial products company's stock worth $149,000 after purchasing an additional 121 shares during the last quarter. Impax Asset Management Group plc purchased a new position in Eaton in the third quarter worth $2,347,000. Finally, FSM Wealth Advisors LLC bought a new stake in shares of Eaton in the third quarter valued at $216,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the company's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.53% of the company's stock.

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Eaton Price Performance

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

Eaton (NYSE:ETN - Get Free Report) last announced its 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 return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the company posted $2.55 EPS. Analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be issued a $1.04 dividend. This is a boost from Eaton's previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Monday, March 10th. Eaton's dividend payout ratio is presently 43.79%.

Wall Street Analysts Forecast Growth

ETN has been the topic of several research reports. Bank of America boosted their target price on Eaton from $350.00 to $410.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Barclays lowered their target price on Eaton from $353.00 to $325.00 and set an "equal weight" rating on the stock in a research note on Monday, March 3rd. UBS Group initiated coverage on Eaton in a research note on Wednesday, November 13th. They issued a "buy" rating and a $431.00 target price on the stock. Royal Bank of Canada lowered their target price on Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company lowered their target price on Eaton from $335.00 to $305.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $362.58.

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.