Aaron Wealth Advisors LLC lowered its position in Eaton Co. plc (NYSE:ETN – Free Report) by 0.8% in the 4th quarter, Holdings Channel reports. The firm owned 6,652 shares of the industrial products company’s stock after selling 56 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Eaton were worth $2,208,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Horizon Bancorp Inc. IN boosted its stake in shares of Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc bought a new stake in Eaton during the 3rd quarter valued at about $33,000. West Financial Advisors LLC bought a new position in Eaton in the 3rd quarter worth about $35,000. DT Investment Partners LLC purchased a new position in shares of Eaton during the third quarter worth approximately $37,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of Eaton during the third quarter valued at approximately $44,000. 82.97% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. Bank of America raised their price objective on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Royal Bank of Canada increased their target price on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. UBS Group began coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target for the company. Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and lifted their price objective for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Finally, Sanford C. Bernstein started coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $368.89.
Eaton Stock Performance
Shares of ETN stock opened at $346.54 on Friday. The business has a fifty day moving average of $354.32 and a 200 day moving average of $329.77. 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 firm has a market capitalization of $136.95 billion, a price-to-earnings ratio of 36.87, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06.
Eaton (NYSE:ETN – Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the company earned $2.47 EPS. Eaton’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, research analysts expect that Eaton Co. plc will post 10.8 earnings per share for the current year.
Eaton Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.09%. The ex-dividend date was Monday, November 4th. Eaton’s payout ratio is 40.00%.
Insider Buying and Selling at Eaton
In other news, insider Craig Arnold sold 61,569 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This represents a 10.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the transaction, the director now owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This represents a 18.80 % 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 Company 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.
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