Aaron Wealth Advisors LLC trimmed its position in Eaton Co. plc (NYSE:ETN – Free Report) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,652 shares of the industrial products company’s stock after selling 56 shares during the period. Aaron Wealth Advisors LLC’s holdings in Eaton were worth $2,208,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in ETN. B. Riley Wealth Advisors Inc. increased its holdings in shares of 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 valued at $13,533,000 after acquiring an additional 13,497 shares in the last quarter. Interval Partners LP lifted its stake in shares of Eaton by 82.7% in the second 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 increased its position in shares of Eaton by 285.5% during the second quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock valued at $1,801,000 after acquiring an additional 4,254 shares in the last quarter. Eastover Investment Advisors LLC purchased a new position in Eaton in the 4th quarter worth approximately $6,167,000. Finally, Neville Rodie & Shaw Inc. lifted its position in 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. Hedge funds and other institutional investors own 82.97% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on ETN. Wells Fargo & Company lowered their price target on Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday. Mizuho boosted their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Citigroup dropped their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Sanford C. Bernstein assumed coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $368.89.
Eaton Stock Up 0.4 %
Shares of ETN stock opened at $346.54 on Friday. The company has a market capitalization of $136.95 billion, a price-to-earnings ratio of 36.87, a PEG ratio of 2.27 and a beta of 1.06. 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 company’s fifty day moving average price is $354.32 and its 200-day moving average price is $329.77. Eaton Co. plc has a one year low of $236.20 and a one year high of $379.99.
Eaton (NYSE:ETN – Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating 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 the consensus estimate of $6.37 billion. During the same period in the previous year, the business earned $2.47 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. Sell-side analysts expect that Eaton Co. plc will post 10.8 EPS for the current fiscal year.
Eaton Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.
Insider Buying and Selling
In related news, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were 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 approximately $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,981 shares of company stock worth $27,660,117. 0.33% of the stock is owned by insiders.
About Eaton
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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