Sax Wealth Advisors LLC Buys 247 Shares of Eaton Co. plc (NYSE:ETN)

Sax Wealth Advisors LLC increased its position in Eaton Co. plc (NYSE:ETN) by 12.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,292 shares of the industrial products company’s stock after acquiring an additional 247 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Eaton were worth $761,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ETN. B. Riley Wealth Advisors Inc. increased its holdings in shares of 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 worth $13,533,000 after purchasing an additional 13,497 shares during the period. Interval Partners LP grew its position in Eaton by 82.7% during the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after buying an additional 68,693 shares in the last quarter. Scientech Research LLC raised its holdings in shares of Eaton by 285.5% in the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock valued at $1,801,000 after acquiring an additional 4,254 shares in the last quarter. Eastover Investment Advisors LLC bought a new stake in shares of Eaton during the 4th quarter valued at about $6,167,000. Finally, Neville Rodie & Shaw Inc. increased its position in shares of Eaton by 6.8% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company’s stock worth $12,739,000 after purchasing an additional 2,428 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the sale, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,981 shares of company stock valued at $27,660,117. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

ETN has been the subject of a number of research reports. 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 price target for the company. JPMorgan Chase & Co. lowered their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday. Jefferies Financial Group upped their price objective on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Bank of America raised 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, Wells Fargo & Company cut their target price on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Eaton has a consensus rating of “Moderate Buy” and an average target price of $368.89.

Eaton Stock Performance

Shares of NYSE: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 company has a market cap of $136.95 billion, a price-to-earnings ratio of 36.87, a price-to-earnings-growth 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 company has a 50-day moving average price of $354.32 and a 200-day moving average price of $329.77.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter last year, the business posted $2.47 EPS. The business’s revenue 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 Dividend Announcement

The business also recently disclosed 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%.

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.