Arthur M. Cohen & Associates LLC Has $1.94 Million Position in Eaton Co. plc (NYSE:ETN)

Arthur M. Cohen & Associates LLC grew its holdings in Eaton Co. plc (NYSE:ETN) by 7.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,859 shares of the industrial products company’s stock after acquiring an additional 396 shares during the period. Arthur M. Cohen & Associates LLC’s holdings in Eaton were worth $1,944,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. grew its position in Eaton by 48.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock valued at $13,533,000 after acquiring an additional 13,497 shares during the period. Interval Partners LP grew its holdings in shares of Eaton by 82.7% in the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after purchasing an additional 68,693 shares during the last quarter. Scientech Research LLC increased its position in shares of Eaton by 285.5% during the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock worth $1,801,000 after purchasing an additional 4,254 shares in the last quarter. Neville Rodie & Shaw Inc. lifted its holdings in Eaton by 6.8% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company’s stock valued at $12,739,000 after purchasing an additional 2,428 shares during the last quarter. Finally, Eastover Investment Advisors LLC acquired a new position in Eaton in the fourth quarter valued at about $6,167,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

ETN stock opened at $346.54 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a twelve month low of $236.20 and a twelve month high of $379.99. The business’s fifty day moving average is $354.73 and its 200-day moving average is $329.53. The company has a market cap of $136.95 billion, a P/E ratio of 36.87, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06.

Eaton (NYSE:ETN) last posted its earnings results 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. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.47 EPS. Equities research analysts forecast that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were issued a $0.94 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.09%. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Insider Transactions at Eaton

In other Eaton news, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction dated 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 directly owns 51,422 shares in the company, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,981 shares of company stock valued at $27,660,117 over the last three months. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ETN shares. UBS Group assumed coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price for the company. Jefferies Financial Group boosted their price objective on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Barclays raised their target price on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Royal Bank of Canada increased their price objective on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Citigroup dropped their target price 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. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $368.89.

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.