SVB Wealth LLC Takes Position in Eaton Co. plc (NYSE:ETN)

SVB Wealth LLC acquired a new stake in shares of Eaton Co. plc (NYSE:ETN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 49,638 shares of the industrial products company’s stock, valued at approximately $16,473,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Horizon Bancorp Inc. IN boosted its position 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 worth $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc purchased a new position in shares of Eaton during the 3rd quarter valued at $33,000. Activest Wealth Management boosted its holdings 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 period. Hager Investment Management Services LLC purchased a new stake in Eaton in the 4th quarter worth $38,000. Finally, Sierra Ocean LLC purchased a new stake in Eaton in the 4th quarter worth $39,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ETN shares. Bank of America upped their price objective on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Jefferies Financial Group boosted their price target on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Barclays increased their price objective on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. UBS Group started coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Finally, Sanford C. Bernstein assumed 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. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Eaton has an average rating of “Moderate Buy” and an average target price of $366.05.

Insider Activity

In related news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.

Eaton Stock Up 1.0 %

Shares of NYSE:ETN opened at $293.21 on Friday. The company has a market cap of $115.88 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $326.90 and a 200 day moving average price of $332.29.

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 the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the business posted $2.55 earnings per share. As a group, equities research analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be given a dividend of $1.04 per share. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.42%. Eaton’s payout ratio is 39.58%.

About Eaton

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.