Retireful LLC purchased a new position in Eaton Co. plc (NYSE:ETN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 907 shares of the industrial products company's stock, valued at approximately $301,000.
Other hedge funds also recently bought and sold shares of the company. Edgestream Partners L.P. increased its stake in Eaton by 98.5% during the second quarter. Edgestream Partners L.P. now owns 1,989 shares of the industrial products company's stock worth $624,000 after acquiring an additional 987 shares during the last quarter. Bradley Foster & Sargent Inc. CT lifted its holdings in shares of Eaton by 81.8% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 16,686 shares of the industrial products company's stock worth $5,232,000 after acquiring an additional 7,510 shares during the last quarter. SYSTM Wealth Solutions LLC boosted its stake in shares of Eaton by 97.5% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 2,246 shares of the industrial products company's stock worth $704,000 after purchasing an additional 1,109 shares during the period. Blair William & Co. IL grew its holdings in Eaton by 5.1% during the 2nd quarter. Blair William & Co. IL now owns 61,673 shares of the industrial products company's stock valued at $19,338,000 after purchasing an additional 2,999 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in Eaton by 4.9% in the 2nd quarter. Hsbc Holdings PLC now owns 393,020 shares of the industrial products company's stock worth $123,596,000 after purchasing an additional 18,204 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.
Insider Activity
In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now directly owns 31,200 shares of the company's stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares in the company, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,981 shares of company stock worth $27,660,117. Insiders own 0.33% of the company's stock.
Eaton Stock Up 0.4 %
Shares of ETN traded up $1.35 during trading hours on Friday, hitting $346.54. The company had a trading volume of 2,454,294 shares, compared to its average volume of 2,489,136. Eaton Co. plc has a one year low of $236.20 and a one year high of $379.99. The company's fifty day moving average price is $354.73 and its two-hundred day moving average price is $329.53. The company has a market capitalization of $136.95 billion, a PE ratio of 36.87, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.
Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the company posted $2.47 earnings per share. The firm's revenue was up 7.9% on a year-over-year basis. As a group, equities analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.
Eaton Dividend Announcement
The firm 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 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Monday, November 4th. Eaton's payout ratio is presently 40.00%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on ETN shares. Royal Bank of Canada boosted their target price on Eaton from $374.00 to $392.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. UBS Group initiated coverage on Eaton in a research report on Wednesday, November 13th. They issued a "buy" rating and a $431.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on Eaton from $350.00 to $348.00 and set an "overweight" rating for the company in a research report on Wednesday. Evercore ISI cut shares of Eaton from an "outperform" rating to an "inline" rating and upped their price target for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Finally, Jefferies Financial Group lifted their price objective on shares of Eaton from $400.00 to $440.00 and gave the company a "buy" rating in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Eaton presently has a consensus rating of "Moderate Buy" and an average price target of $368.89.
Get Our Latest Analysis on ETN
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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