First Pacific Financial Has $1.54 Million Stock Position in Eaton Co. plc (NYSE:ETN)

First Pacific Financial lowered its holdings in shares of Eaton Co. plc (NYSE:ETN) by 5.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,627 shares of the industrial products company’s stock after selling 250 shares during the period. First Pacific Financial’s holdings in Eaton were worth $1,536,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. B. Riley Wealth Advisors Inc. lifted its holdings in Eaton by 48.9% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after buying an additional 13,497 shares during the period. Interval Partners LP lifted its stake in shares of Eaton by 82.7% in the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after acquiring an additional 68,693 shares during the period. Scientech Research LLC boosted its holdings in Eaton by 285.5% in the second 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 during the last quarter. Neville Rodie & Shaw Inc. boosted its holdings in Eaton by 6.8% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company’s stock valued at $12,739,000 after acquiring an additional 2,428 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new position in Eaton during the 3rd quarter worth approximately $1,160,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

ETN opened at $345.02 on Friday. Eaton Co. plc has a 1-year low of $236.04 and a 1-year high of $379.99. The company has a market cap of $136.35 billion, a price-to-earnings ratio of 36.70, a PEG ratio of 2.27 and a beta of 1.06. The company’s fifty day moving average price is $355.04 and its two-hundred day moving average price is $329.43. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

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 the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion for 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 firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.47 EPS. On average, analysts expect that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were issued a dividend of $0.94 per share. 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 currently 40.00%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ETN shares. Mizuho upped their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Citigroup decreased their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday. Jefferies Financial Group boosted their price objective on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Royal Bank of Canada raised their target price on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and boosted their price target for the company from $333.00 to $389.00 in a research note 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $368.89.

Insider Activity at Eaton

In other news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares in the company, valued at $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 76,981 shares of company stock valued at $27,660,117. 0.33% of the stock is owned by insiders.

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.