Waterway Wealth Management LLC Buys 70 Shares of Eaton Co. plc (NYSE:ETN)

Waterway Wealth Management LLC increased its position in Eaton Co. plc (NYSE:ETN) by 10.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 762 shares of the industrial products company’s stock after acquiring an additional 70 shares during the quarter. Waterway Wealth Management LLC’s holdings in Eaton were worth $253,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ETN. Nicholas Hoffman & Company LLC. raised its position in shares of Eaton by 3.1% in the third quarter. Nicholas Hoffman & Company LLC. now owns 1,432 shares of the industrial products company’s stock worth $475,000 after buying an additional 43 shares in the last quarter. Mutual Advisors LLC increased its stake in Eaton by 20.5% in the 3rd quarter. Mutual Advisors LLC now owns 6,383 shares of the industrial products company’s stock worth $2,204,000 after acquiring an additional 1,088 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of Eaton by 37.6% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 589 shares of the industrial products company’s stock valued at $203,000 after acquiring an additional 161 shares in the last quarter. SteelPeak Wealth LLC grew its holdings in shares of Eaton by 121.3% during the third quarter. SteelPeak Wealth LLC now owns 3,714 shares of the industrial products company’s stock worth $1,231,000 after purchasing an additional 2,036 shares in the last quarter. Finally, JFS Wealth Advisors LLC increased its position in shares of Eaton by 75.5% in the third quarter. JFS Wealth Advisors LLC now owns 2,910 shares of the industrial products company’s stock worth $965,000 after purchasing an additional 1,252 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Barclays raised their price target on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Melius Research reiterated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Royal Bank of Canada reissued an “outperform” rating on shares of Eaton in a report on Thursday, February 13th. Finally, Mizuho boosted their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $366.05.

Insider Activity

In other news, Director Gregory R. Page sold 10,000 shares of the 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 completion of 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.

Eaton Price Performance

ETN opened at $290.08 on Friday. The firm has a market cap of $114.64 billion, a PE ratio of 30.53, a P/E/G ratio of 2.64 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The stock has a 50-day moving average price of $327.80 and a 200-day moving average price of $332.26.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 firm posted $2.55 earnings per share. Sell-side analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.43%. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is 39.58%.

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.