Central Valley Advisors LLC Buys 47 Shares of Eaton Co. plc (NYSE:ETN)

Central Valley Advisors LLC grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,045 shares of the industrial products company’s stock after buying an additional 47 shares during the period. Eaton accounts for 1.2% of Central Valley Advisors LLC’s portfolio, making the stock its 20th biggest holding. Central Valley Advisors LLC’s holdings in Eaton were worth $2,670,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Edgestream Partners L.P. lifted its holdings in shares of Eaton by 98.5% in the second quarter. Edgestream Partners L.P. now owns 1,989 shares of the industrial products company’s stock worth $624,000 after buying an additional 987 shares in the last quarter. Bradley Foster & Sargent Inc. CT boosted its holdings in shares of Eaton by 81.8% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 16,686 shares of the industrial products company’s stock valued at $5,232,000 after purchasing an additional 7,510 shares during the last quarter. SYSTM Wealth Solutions LLC grew its position in shares of Eaton by 97.5% during the second quarter. SYSTM Wealth Solutions LLC now owns 2,246 shares of the industrial products company’s stock valued at $704,000 after purchasing an additional 1,109 shares in the last quarter. Blair William & Co. IL lifted its position in shares of Eaton by 5.1% in the second quarter. Blair William & Co. IL now owns 61,673 shares of the industrial products company’s stock worth $19,338,000 after buying an additional 2,999 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Eaton by 4.9% during the second quarter. Hsbc Holdings PLC now owns 393,020 shares of the industrial products company’s stock valued at $123,596,000 after buying an additional 18,204 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on ETN shares. Citigroup lowered their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday. UBS Group began coverage on Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Mizuho boosted their price objective on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Jefferies Financial Group boosted their price target on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Evercore ISI lowered 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 research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $368.89.

Eaton Trading Up 0.7 %

ETN stock opened at $345.02 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 52-week low of $236.04 and a 52-week high of $379.99. The company’s 50-day simple moving average is $355.04 and its 200-day simple moving average is $329.43. The firm has a market cap of $136.35 billion, a P/E ratio of 36.70, a PEG ratio of 2.27 and a beta of 1.06.

Eaton (NYSE:ETN) last announced 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. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the firm posted $2.47 EPS. The business’s revenue was up 7.9% on a year-over-year basis. As a group, equities analysts forecast that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared 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 1.09%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Insider Buying and Selling

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction on Monday, November 25th. The stock was 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 $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the transaction, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,981 shares of company stock worth $27,660,117. 0.33% of the stock is owned by insiders.

About Eaton

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.