Oak Thistle LLC purchased a new position in shares of Eaton Co. plc (NYSE:ETN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,000 shares of the industrial products company's stock, valued at approximately $332,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. grew its stake in Eaton by 48.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company's stock worth $13,533,000 after purchasing an additional 13,497 shares during the period. Interval Partners LP boosted its holdings in shares of Eaton by 82.7% during the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company's stock worth $47,571,000 after buying an additional 68,693 shares in the last quarter. Scientech Research LLC grew its position in shares of Eaton by 285.5% during the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company's stock worth $1,801,000 after buying an additional 4,254 shares during the period. Neville Rodie & Shaw Inc. increased its stake in shares of Eaton by 6.8% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company's stock valued at $12,739,000 after acquiring an additional 2,428 shares in the last quarter. Finally, Eastover Investment Advisors LLC acquired a new position in shares of Eaton during the 4th quarter valued at $6,167,000. Institutional investors and hedge funds own 82.97% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on ETN shares. Wells Fargo & Company decreased their price target on shares of Eaton from $365.00 to $350.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. Barclays boosted their target price on Eaton from $320.00 to $353.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. Mizuho increased their price target on Eaton from $365.00 to $385.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. JPMorgan Chase & Co. reduced their price objective on Eaton from $350.00 to $348.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, Citigroup lowered their target price on Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $368.89.
Check Out Our Latest Stock Analysis on ETN
Insider Activity
In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now owns 31,200 shares of the company's stock, valued at $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Arnold sold 61,569 shares of Eaton 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 completion of the sale, the insider now directly owns 506,360 shares of the company's stock, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,981 shares of company stock valued at $27,660,117 in the last three months. Company insiders own 0.33% of the company's stock.
Eaton Stock Performance
Shares of Eaton stock traded up $1.35 during mid-day trading on Friday, hitting $346.54. 2,454,294 shares of the stock were exchanged, compared to its average volume of 1,724,943. Eaton Co. plc has a 12 month low of $236.20 and a 12 month high of $379.99. The company has a 50-day simple moving average of $354.32 and a 200 day simple moving average of $329.77. The company has a market capitalization of $136.95 billion, a P/E ratio of 36.87, a P/E/G ratio of 2.27 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.
Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion for the quarter, compared to analysts' expectations of $6.37 billion. During the same quarter in the previous year, the firm earned $2.47 earnings per share. The business's revenue was up 7.9% on a year-over-year basis. Sell-side analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.
Eaton Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Monday, November 4th. Eaton's payout ratio is 40.00%.
Eaton Profile
(
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.
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