SWS Partners Buys 329 Shares of Eaton Co. plc (NYSE:ETN)

SWS Partners grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 3.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,063 shares of the industrial products company’s stock after acquiring an additional 329 shares during the period. Eaton makes up approximately 1.0% of SWS Partners’ portfolio, making the stock its 26th biggest position. SWS Partners’ holdings in Eaton were worth $3,340,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ETN. Noble Wealth Management PBC acquired a new position in Eaton in the 4th quarter worth about $30,000. Horizon Bancorp Inc. IN grew its holdings 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 worth $32,000 after purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc acquired a new position in shares of Eaton in the third quarter valued at approximately $33,000. Activest Wealth Management raised 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 valued at $34,000 after buying an additional 87 shares during the last quarter. Finally, Hager Investment Management Services LLC acquired a new stake in Eaton during the 4th quarter worth approximately $38,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the firm’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 transaction, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ETN has been the subject of several analyst reports. Citigroup dropped their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. JPMorgan Chase & Co. lowered their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Barclays decreased their price target on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a research note on Monday. Sanford C. Bernstein began coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective on the stock. Finally, Jefferies Financial Group increased their target price on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $364.65.

Eaton Trading Down 5.3 %

ETN opened at $277.71 on Tuesday. The company has a market cap of $109.75 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. The company has a fifty day moving average price of $325.70 and a two-hundred day moving average price of $332.62. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates 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. Analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a $1.04 dividend. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Monday, March 10th. Eaton’s dividend payout ratio (DPR) is currently 43.79%.

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.