Moseley Investment Management Inc. boosted its position in Eaton Co. plc (NYSE:ETN - Free Report) by 8.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,833 shares of the industrial products company's stock after buying an additional 1,558 shares during the quarter. Eaton makes up about 2.7% of Moseley Investment Management Inc.'s holdings, making the stock its 11th biggest position. Moseley Investment Management Inc.'s holdings in Eaton were worth $6,914,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Groupama Asset Managment boosted its position in shares of Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 4,298 shares during the period. Horizon Bancorp Inc. IN grew its position in Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc bought a new position in shares of Eaton during the 3rd quarter worth about $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton during the third quarter valued at about $35,000. Finally, DT Investment Partners LLC acquired a new position in shares of Eaton during the third quarter valued at about $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, Director Gregory R. Page sold 4,000 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the transaction, the director now owns 51,422 shares in the company, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Arnold sold 61,569 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value 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. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,981 shares of company stock worth $27,660,117 in the last quarter. Insiders own 0.53% of the company's stock.
Eaton Price Performance
ETN traded up $2.21 during trading on Wednesday, hitting $342.35. The company's stock had a trading volume of 3,434,212 shares, compared to its average volume of 2,500,182. The firm's 50 day moving average price is $355.38 and its two-hundred day moving average price is $329.33. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $135.30 billion, a price-to-earnings ratio of 36.42, a price-to-earnings-growth ratio of 2.70 and a beta of 1.06. Eaton Co. plc has a 12 month low of $236.04 and a 12 month high of $379.99.
Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the company earned $2.47 EPS. The firm's quarterly revenue was up 7.9% on a year-over-year basis. Sell-side analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.
Eaton Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Monday, November 4th. Eaton's dividend payout ratio is currently 40.00%.
Wall Street Analysts Forecast Growth
Several research firms have commented on ETN. Sanford C. Bernstein started coverage on Eaton in a report on Tuesday, November 5th. They issued an "outperform" rating and a $382.00 price target for the company. Wells Fargo & Company cut their target price on Eaton from $365.00 to $350.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. Mizuho lifted their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. UBS Group started coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a "buy" rating and a $431.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of Eaton from $350.00 to $348.00 and set an "overweight" rating on the stock in a research report on Wednesday. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, Eaton has a consensus rating of "Moderate Buy" and a consensus target price of $368.89.
Check Out Our Latest Stock Report on Eaton
About Eaton
(
Free Report)
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.
Featured Stories
Before you consider Eaton, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Eaton wasn't on the list.
While Eaton currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
