Retireful LLC Acquires New Position in Eaton Co. plc (NYSE:ETN)

Retireful LLC bought a new position in shares of Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 907 shares of the industrial products company’s stock, valued at approximately $301,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Horizon Bancorp Inc. IN raised its stake in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new stake in Eaton in the 3rd quarter valued at about $33,000. West Financial Advisors LLC purchased a new position in shares of Eaton in the 3rd quarter valued at about $35,000. DT Investment Partners LLC purchased a new stake in shares of Eaton during the third quarter worth approximately $37,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in Eaton in the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Bank of America boosted their price target on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Sanford C. Bernstein began 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. UBS Group began coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Wells Fargo & Company decreased their price target on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, Royal Bank of Canada increased their price objective on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $368.89.

Insider Activity at Eaton

In related news, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % 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 worth $27,660,117 in the last three months. Insiders own 0.33% of the company’s stock.

Eaton Trading Up 0.7 %

Shares of Eaton stock opened at $345.02 on Friday. The company’s fifty day moving average is $355.04 and its two-hundred day moving average is $329.43. Eaton Co. plc has a 1 year low of $236.04 and a 1 year high of $379.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The company has a market capitalization of $136.35 billion, a P/E ratio of 36.70, a PEG ratio of 2.27 and a beta of 1.06.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (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 firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the firm posted $2.47 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were issued 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%.

Eaton 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.