HB Wealth Management LLC Raises Stock Position in Eaton Co. plc (NYSE:ETN)

HB Wealth Management LLC boosted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 18.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,524 shares of the industrial products company’s stock after purchasing an additional 2,531 shares during the period. HB Wealth Management LLC’s holdings in Eaton were worth $5,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Edgestream Partners L.P. raised its position 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 valued at $624,000 after acquiring an additional 987 shares in the last quarter. Seven Eight Capital LP purchased a new position in shares of Eaton during the 2nd quarter valued at approximately $270,000. Intech Investment Management LLC lifted its stake in shares of Eaton by 9.2% in the 2nd quarter. Intech Investment Management LLC now owns 30,985 shares of the industrial products company’s stock valued at $9,715,000 after purchasing an additional 2,611 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in Eaton by 1.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 10,045 shares of the industrial products company’s stock worth $3,150,000 after buying an additional 116 shares in the last quarter. Finally, King Luther Capital Management Corp grew its position in Eaton by 19.4% during the second quarter. King Luther Capital Management Corp now owns 3,327 shares of the industrial products company’s stock valued at $1,043,000 after buying an additional 541 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s 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 sale, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the 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 transaction, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock valued at $27,660,117 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ETN shares. Barclays increased their target price on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Mizuho raised their price objective on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Jefferies Financial Group upped their target price on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Bank of America lifted their price target on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. 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 research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $368.89.

Eaton Trading Up 0.4 %

Shares of Eaton stock opened at $346.54 on Friday. Eaton Co. plc has a 1-year low of $236.20 and a 1-year 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 stock has a market cap of $136.95 billion, a P/E ratio of 36.87, a P/E/G ratio of 2.27 and a beta of 1.06. The stock’s 50 day simple moving average is $354.32 and its 200-day simple moving average is $329.77.

Eaton (NYSE:ETN) last issued its 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 company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the prior year, the business earned $2.47 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. Analysts predict that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were issued a $0.94 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.09%. Eaton’s payout ratio is 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.