HB Wealth Management LLC Acquires 2,531 Shares of Eaton Co. plc (NYSE:ETN)

HB Wealth Management LLC grew its holdings in shares of Eaton Co. plc (NYSE:ETN) by 18.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,524 shares of the industrial products company’s stock after buying an additional 2,531 shares during the quarter. HB Wealth Management LLC’s holdings in Eaton were worth $5,485,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Groupama Asset Managment lifted its stake 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 valued at $31,000 after purchasing an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN lifted its position in 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 buying an additional 74 shares during the last quarter. Morse Asset Management Inc purchased a new position in Eaton during the third quarter worth $33,000. West Financial Advisors LLC bought a new position in Eaton during the third quarter valued at $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.

Insider Activity

In other news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,981 shares of company stock worth $27,660,117. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on ETN shares. Citigroup cut their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Mizuho increased their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Sanford C. Bernstein assumed coverage on Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective for the company. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and increased their target price for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Finally, Jefferies Financial Group boosted their target price on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $368.89.

Eaton Trading Up 0.4 %

ETN opened at $346.54 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a market cap of $136.95 billion, a price-to-earnings ratio of 36.87, a PEG ratio of 2.27 and a beta of 1.06. Eaton Co. plc has a 12 month low of $236.20 and a 12 month high of $379.99. The stock has a fifty day moving average price of $354.32 and a 200-day moving average price of $329.77.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the company posted $2.47 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Monday, November 4th. Eaton’s payout ratio is presently 40.00%.

Eaton Company 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.