Eaton Co. plc (NYSE:ETN) Shares Purchased by Hilltop Partners LLC

Hilltop Partners LLC raised its stake in Eaton Co. plc (NYSE:ETN) by 489.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,389 shares of the industrial products company’s stock after acquiring an additional 6,136 shares during the quarter. Eaton makes up 0.8% of Hilltop Partners LLC’s portfolio, making the stock its 21st biggest holding. Hilltop Partners LLC’s holdings in Eaton were worth $2,452,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Groupama Asset Managment raised its holdings in Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN increased its stake in 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 purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc purchased a new position in Eaton during the third quarter worth about $33,000. Activest Wealth Management boosted its stake in Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after buying an additional 87 shares during the last quarter. Finally, Hager Investment Management Services LLC purchased a new stake in Eaton in the 4th quarter valued at about $38,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating on shares of Eaton in a report on Thursday, February 13th. Jefferies Financial Group increased their price target on shares of 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 boosted their price objective 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. Evercore ISI cut their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Finally, Mizuho lifted their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Seven equities 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $366.05.

Insider Activity

In related news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

Eaton Stock Performance

Shares of NYSE:ETN opened at $290.08 on Friday. The business’s 50-day simple moving average is $327.80 and its 200 day simple moving average is $332.26. The company has a market cap of $114.64 billion, a P/E ratio of 30.53, a PEG ratio of 2.64 and a beta of 1.05. 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 one year low of $255.65 and a one year high of $379.99.

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

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.43%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is presently 39.58%.

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.