RMR Wealth Builders Sells 141 Shares of Eaton Co. plc (NYSE:ETN)

RMR Wealth Builders lessened its holdings in Eaton Co. plc (NYSE:ETN) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,567 shares of the industrial products company’s stock after selling 141 shares during the quarter. RMR Wealth Builders’ holdings in Eaton were worth $520,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ETN. Breakwater Investment Management grew its holdings in shares of Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares during the last quarter. Groupama Asset Managment grew its holdings in shares of Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares during the last quarter. Morse Asset Management Inc bought a new stake in shares of Eaton in the 3rd quarter worth about $33,000. West Financial Advisors LLC bought a new stake in shares of Eaton in the 3rd quarter worth about $35,000. Finally, DT Investment Partners LLC bought a new stake in shares of Eaton in the 3rd quarter worth about $37,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ETN. UBS Group began coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target on the stock. Wells Fargo & Company reduced their price target on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Barclays upped their price target on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and upped their price target for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group upped their price target on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average target price of $369.28.

Insider Buying and Selling

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction 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 approximately $11,811,696. This represents a 4.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was 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 of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 76,981 shares of company stock valued at $27,660,117. 0.53% of the stock is owned by corporate insiders.

Eaton Stock Performance

Shares of NYSE:ETN opened at $341.54 on Friday. The company has a market capitalization of $134.98 billion, a price-to-earnings ratio of 36.33, a P/E/G ratio of 2.70 and a beta of 1.06. The firm’s 50 day simple moving average is $355.14 and its 200 day simple moving average is $328.82. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a fifty-two week low of $236.04 and a fifty-two week high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business 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 company posted $2.47 EPS. Eaton’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, sell-side analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were paid a dividend of $0.94 per share. The ex-dividend date was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.10%. Eaton’s payout ratio is 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.