RDA Financial Network Invests $404,000 in Eaton Co. plc (NYSE:ETN)

RDA Financial Network bought a new position in shares of Eaton Co. plc (NYSE:ETN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,216 shares of the industrial products company's stock, valued at approximately $404,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ETN. Geode Capital Management LLC increased its position in shares of Eaton by 0.7% in the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company's stock worth $2,665,342,000 after purchasing an additional 56,516 shares during the period. Legal & General Group Plc lifted its stake in Eaton by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company's stock valued at $1,005,317,000 after purchasing an additional 18,077 shares during the last quarter. Franklin Resources Inc. boosted its position in Eaton by 15.1% in the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company's stock valued at $836,938,000 after buying an additional 316,830 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company's stock worth $801,798,000 after buying an additional 597,700 shares during the last quarter. Finally, 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 worth $753,590,000 after buying an additional 1,629,856 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ETN. Citigroup reduced their price objective on Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Jefferies Financial Group upped their price objective on Eaton from $400.00 to $440.00 and gave the company a "buy" rating in a research note on Friday, December 6th. 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 target for the company. Royal Bank of Canada lifted their price objective on Eaton from $374.00 to $392.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company reduced 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. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $368.89.

Eaton Stock Performance

NYSE:ETN traded up $1.35 on Friday, reaching $346.54. 2,454,294 shares of the company's stock were exchanged, compared to its average volume of 1,724,943. The stock has a fifty day simple moving average of $354.32 and a 200-day simple moving average of $329.77. Eaton Co. plc has a 52 week low of $236.20 and a 52 week high of $379.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The firm has a market cap of $136.95 billion, a price-to-earnings ratio of 36.87, a P/E/G ratio of 2.27 and a beta of 1.06.

Eaton (NYSE:ETN - Get Free Report) last posted its 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 return on equity of 21.97% and a net margin of 15.32%. The firm 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 business posted $2.47 earnings per share. The business's quarterly revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Dividend Announcement

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

Insider Transactions at Eaton

In related news, Director Gregory R. Page sold 4,000 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the transaction, the director now directly owns 51,422 shares in the company, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the company'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 completion of the transaction, the insider now 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. Over the last ninety days, insiders have sold 76,981 shares of company stock valued at $27,660,117. 0.33% of the stock is currently owned by corporate insiders.

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.