HCR Wealth Advisors Boosts Holdings in Eaton Co. plc (NYSE:ETN)

HCR Wealth Advisors raised its holdings in shares of Eaton Co. plc (NYSE:ETN) by 17.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,723 shares of the industrial products company’s stock after buying an additional 262 shares during the period. HCR Wealth Advisors’ holdings in Eaton were worth $572,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Eaton by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock worth $2,665,342,000 after purchasing an additional 56,516 shares in the last quarter. Legal & General Group Plc grew its holdings in Eaton by 0.6% during the second quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock valued at $1,005,317,000 after purchasing an additional 18,077 shares during the period. Franklin Resources Inc. increased its position in Eaton by 15.1% in the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock worth $836,938,000 after buying an additional 316,830 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Eaton by 32.8% in the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after buying an additional 597,700 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Eaton by 253.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after buying an additional 1,629,856 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ETN shares. UBS Group started coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price for the company. Mizuho increased their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Sanford C. Bernstein assumed coverage on shares of Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective on the stock. 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 report on Monday. Finally, Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and raised their price target for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Eaton has an average rating of “Moderate Buy” and an average target price of $368.89.

Insider Transactions at Eaton

In other Eaton news, Director Gregory R. Page sold 4,000 shares of Eaton 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 completion of the transaction, 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 transaction 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 stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction 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. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is currently owned by company insiders.

Eaton Stock Up 0.6 %

NYSE ETN opened at $342.35 on Thursday. The stock has a 50 day moving average price of $355.38 and a 200-day moving average price of $329.33. Eaton Co. plc has a one year low of $236.04 and a one year high of $379.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The company has a market capitalization of $135.30 billion, a P/E ratio of 36.42, a P/E/G ratio of 2.70 and a beta of 1.06.

Eaton (NYSE:ETN) last issued its quarterly earnings data 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. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the company posted $2.47 EPS. As a group, equities analysts predict that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s payout ratio is 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.