Edgestream Partners L.P. Grows Stock Holdings in Eaton Co. plc (NYSE:ETN)

Edgestream Partners L.P. grew its holdings in Eaton Co. plc (NYSE:ETN) by 30.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,019 shares of the industrial products company’s stock after buying an additional 701 shares during the period. Edgestream Partners L.P.’s holdings in Eaton were worth $1,002,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. United Bank purchased a new stake in Eaton during the third quarter valued at approximately $258,000. Wolverine Asset Management LLC purchased a new stake in Eaton during the 3rd quarter valued at $1,160,000. Venturi Wealth Management LLC lifted its position in Eaton by 2.1% in the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock worth $513,000 after buying an additional 32 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in Eaton by 72.2% during the third quarter. Nations Financial Group Inc. IA ADV now owns 3,419 shares of the industrial products company’s stock worth $1,133,000 after buying an additional 1,434 shares during the period. Finally, Entropy Technologies LP increased its position in Eaton by 67.5% during the third quarter. Entropy Technologies LP now owns 16,018 shares of the industrial products company’s stock valued at $5,309,000 after acquiring an additional 6,456 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Price Performance

NYSE ETN opened at $282.89 on Wednesday. The company has a market cap of $110.89 billion, a PE ratio of 29.78, a P/E/G ratio of 2.64 and a beta of 1.09. The firm’s 50 day moving average price is $319.04 and its 200-day moving average price is $331.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the previous year, the firm posted $2.55 EPS. Sell-side analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is 43.79%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ETN shares. Evercore ISI dropped their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company dropped their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Citigroup cut their target price on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a research note on Tuesday, January 28th. Finally, 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. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and an average target price of $362.58.

Insider Buying and Selling at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% 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.