StrongBox Wealth LLC Lowers Position in Eaton Co. plc (NYSE:ETN)

StrongBox Wealth LLC trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,941 shares of the industrial products company’s stock after selling 211 shares during the quarter. Eaton accounts for approximately 2.9% of StrongBox Wealth LLC’s portfolio, making the stock its 12th biggest position. StrongBox Wealth LLC’s holdings in Eaton were worth $6,950,000 as of its most recent SEC filing.

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

Eaton Stock Up 0.6 %

Shares of NYSE:ETN opened at $342.35 on Thursday. The firm has a 50 day simple moving average of $355.38 and a 200-day simple moving average of $329.33. Eaton Co. plc has a twelve month low of $236.04 and a twelve month high of $379.99. 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 capitalization of $135.30 billion, a PE ratio of 36.42, a P/E/G ratio of 2.27 and a beta of 1.06.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The firm 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%. Eaton’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.47 earnings per share. On average, equities analysts predict that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.10%. Eaton’s dividend payout ratio is presently 40.00%.

Insider Buying and Selling at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction dated 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 directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,981 shares of company stock worth $27,660,117. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ETN. Mizuho increased their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Citigroup cut their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday. Barclays lifted 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. JPMorgan Chase & Co. cut their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company decreased their price objective 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 research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $368.89.

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.