Pines Wealth Management LLC acquired 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 disclosure with the Securities and Exchange Commission. The firm acquired 2,623 shares of the industrial products company's stock, valued at approximately $896,000.
Other hedge funds also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Eaton by 253.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company's stock valued at $753,590,000 after acquiring an additional 1,629,856 shares in the last quarter. International Assets Investment Management LLC grew its position in Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company's stock valued at $355,959,000 after purchasing an additional 1,070,024 shares during the period. Janus Henderson Group PLC increased its stake in Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company's stock valued at $801,798,000 after purchasing an additional 597,700 shares in the last quarter. Wulff Hansen & CO. raised its holdings in Eaton by 31,255.0% during the second quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company's stock worth $149,928,000 after buying an additional 476,639 shares during the last quarter. Finally, Electron Capital Partners LLC grew its holdings in shares of Eaton by 8,348.9% during the second quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company's stock valued at $140,008,000 after buying an additional 441,239 shares during the last quarter. Institutional investors own 82.97% of the company's stock.
Insider Activity
In other Eaton news, Director Gregory R. Page sold 4,000 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now owns 51,422 shares of the company's stock, valued at $17,241,796.60. The trade was a 7.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Craig Arnold sold 61,569 shares of the firm's stock in a transaction on 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,981 shares of company stock valued at $27,660,117 over the last quarter. Company insiders own 0.53% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of Eaton from $400.00 to $440.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Wells Fargo & Company lowered their price objective 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. Bank of America lifted their target price on Eaton from $350.00 to $410.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lowered their price target on Eaton from $350.00 to $348.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, UBS Group started coverage on shares of Eaton in a report on Wednesday, November 13th. They set a "buy" rating and a $431.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $368.89.
View Our Latest Analysis on ETN
Eaton Stock Performance
Shares of ETN stock traded up $2.21 during trading hours on Wednesday, hitting $342.35. 3,434,137 shares of the company were exchanged, compared to its average volume of 2,479,719. Eaton Co. plc has a 52-week low of $236.04 and a 52-week high of $379.99. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a fifty day simple moving average of $355.38 and a 200 day simple moving average of $329.33. The stock has a market capitalization of $135.30 billion, a price-to-earnings ratio of 36.42, a P/E/G ratio of 2.70 and a beta of 1.06.
Eaton (NYSE:ETN - Get Free Report) last released its earnings results 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 the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business's revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the business posted $2.47 earnings per share. Research analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.
Eaton Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were paid a $0.94 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.10%. 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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