Pines Wealth Management LLC Makes New $896,000 Investment in Eaton Co. plc (NYSE:ETN)

Pines Wealth Management LLC purchased a new position in shares of Eaton Co. plc (NYSE:ETN) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 2,623 shares of the industrial products company’s stock, valued at approximately $896,000.

Several other institutional investors have also recently made changes to their positions in ETN. Strategic Wealth Partners Ltd. grew its holdings in Eaton by 3.0% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after acquiring an additional 30 shares in the last quarter. Fairfield Financial Advisors LTD boosted its stake in shares of Eaton by 16.2% during the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 30 shares in the last quarter. Westmount Partners LLC increased its holdings in Eaton by 3.1% during the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after buying an additional 30 shares during the period. Signal Advisors Wealth LLC raised its stake in Eaton by 3.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after buying an additional 30 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in Eaton by 2.1% during the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock worth $513,000 after buying an additional 32 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Trading Down 0.3 %

Eaton stock opened at $339.79 on Wednesday. Eaton Co. plc has a 52 week low of $236.04 and a 52 week high of $379.99. The stock has a 50-day moving average price of $355.38 and a 200 day moving average price of $329.33. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $134.29 billion, a price-to-earnings ratio of 36.15, a price-to-earnings-growth ratio of 2.70 and a beta of 1.06.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate 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 in the prior year, the firm earned $2.47 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Sell-side analysts anticipate that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders 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 dividend yield of 1.11%. Eaton’s payout ratio is currently 40.00%.

Insider Activity

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the transaction, the director now directly owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Craig Arnold sold 61,569 shares of the firm’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 transaction of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock valued at $27,660,117 in the last quarter. 0.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Bank of America lifted their price target on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Citigroup reduced their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday. Barclays raised their price target on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Royal Bank of Canada boosted their price objective on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Sanford C. Bernstein assumed coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $367.61.

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.