Trueblood Wealth Management LLC Has $558,000 Holdings in Eaton Co. plc (NYSE:ETN)

Trueblood Wealth Management LLC raised its stake in Eaton Co. plc (NYSE:ETN) by 10.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,680 shares of the industrial products company’s stock after acquiring an additional 156 shares during the period. Trueblood Wealth Management LLC’s holdings in Eaton were worth $558,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. B. Riley Wealth Advisors Inc. raised its stake in Eaton by 48.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after acquiring an additional 13,497 shares in the last quarter. Interval Partners LP lifted its stake in Eaton by 82.7% in the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock valued at $47,571,000 after purchasing an additional 68,693 shares during the last quarter. Scientech Research LLC boosted its position 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 buying an additional 4,254 shares in the last quarter. Eastover Investment Advisors LLC bought a new stake in shares of Eaton during the fourth quarter worth $6,167,000. Finally, Neville Rodie & Shaw Inc. increased its holdings in shares of Eaton by 6.8% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company’s stock worth $12,739,000 after buying an additional 2,428 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ETN shares. Barclays boosted their price objective on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Jefferies Financial Group upped their price target on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Citigroup cut their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company cut their target price on Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and lifted their price target for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $368.89.

Insider Buying and Selling at Eaton

In related news, Director Gregory R. Page sold 4,000 shares of the 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 transaction, the director now owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock worth $27,660,117 over the last three months. 0.33% of the stock is owned by insiders.

Eaton Trading Up 0.4 %

Shares of Eaton stock opened at $346.54 on Monday. The stock has a market capitalization of $136.95 billion, a P/E ratio of 36.87, a P/E/G ratio of 2.27 and a beta of 1.06. Eaton Co. plc has a 52-week low of $236.20 and a 52-week 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 stock’s 50-day simple moving average is $354.32 and its 200 day simple moving average is $329.89.

Eaton (NYSE:ETN) last posted its 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. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the previous year, the firm earned $2.47 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, research analysts anticipate that Eaton Co. plc will post 10.8 EPS for the current 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 given 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 dividend yield of 1.09%. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

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.