Eaton Co. plc (NYSE:ETN) Shares Acquired by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC increased its position in shares of Eaton Co. plc (NYSE:ETN) by 39.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,879 shares of the industrial products company’s stock after acquiring an additional 2,222 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Eaton were worth $2,615,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Eaton by 253.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after buying an additional 1,629,856 shares during the last quarter. International Assets Investment Management LLC grew its position in Eaton by 27,075.5% in the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after acquiring an additional 1,070,024 shares during the period. Janus Henderson Group PLC increased its stake in Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after acquiring an additional 597,700 shares during the last quarter. Wulff Hansen & CO. raised its position in Eaton by 31,255.0% in the second quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock valued at $149,928,000 after purchasing an additional 476,639 shares during the period. Finally, Electron Capital Partners LLC lifted its stake in shares of Eaton by 8,348.9% in the 2nd quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company’s stock valued at $140,008,000 after purchasing an additional 441,239 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ETN. Barclays boosted their price target on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Jefferies Financial Group boosted their target price on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and raised their price target for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Bank of America boosted their price objective on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Sanford C. Bernstein initiated coverage on Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price for the company. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $367.61.

Insider Activity

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now owns 51,422 shares in the company, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,981 shares of company stock valued at $27,660,117. Company insiders own 0.53% of the company’s stock.

Eaton Price Performance

ETN stock opened at $339.79 on Wednesday. The business has a 50 day simple moving average of $355.38 and a 200-day simple moving average of $329.33. The company has a market capitalization of $134.29 billion, a P/E ratio of 36.15, a PEG ratio of 2.70 and a beta of 1.06. Eaton Co. plc has a twelve month low of $236.04 and a twelve month high of $379.99. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) 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 period last year, the firm posted $2.47 EPS. Eaton’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, equities analysts anticipate that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were paid a $0.94 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.11%. Eaton’s dividend payout ratio (DPR) is currently 40.00%.

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.