648 Shares in Eaton Co. plc (NYSE:ETN) Acquired by Ridgeline Wealth LLC

Ridgeline Wealth LLC acquired a new stake in Eaton Co. plc (NYSE:ETN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 648 shares of the industrial products company’s stock, valued at approximately $215,000.

Several other large investors have also modified their holdings of the company. Breakwater Investment Management raised its stake in Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 78 shares during the last quarter. Groupama Asset Managment increased its holdings in shares of Eaton by 83.2% in the third 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 period. Morse Asset Management Inc purchased a new stake in shares of Eaton during the third quarter worth approximately $33,000. West Financial Advisors LLC acquired a new stake in shares of Eaton during the third quarter worth $35,000. Finally, DT Investment Partners LLC purchased a new position in Eaton in the 3rd quarter valued at $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ETN shares. Raymond James dropped their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Jefferies Financial Group boosted their target price on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Royal Bank of Canada raised their price target on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a report on Friday. Citigroup upped their price objective on Eaton from $394.00 to $440.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Barclays raised their target price on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $368.83.

Eaton Price Performance

Shares of NYSE:ETN traded up $5.81 on Monday, hitting $348.39. The company had a trading volume of 3,157,148 shares, compared to its average volume of 2,442,044. 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 company has a market cap of $137.68 billion, a PE ratio of 37.06, a PEG ratio of 2.74 and a beta of 1.06. Eaton Co. plc has a 52-week low of $234.20 and a 52-week high of $379.99. The business has a 50 day moving average of $354.67 and a 200 day moving average of $328.11.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.47 EPS. As a group, equities 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 disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is 40.00%.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’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 in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the 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 directly owns 51,422 shares in the company, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is currently owned by insiders.

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.