Triad Wealth Partners LLC Buys Shares of 2,326 Eaton Co. plc (NYSE:ETN)

Triad Wealth Partners LLC purchased a new position in Eaton Co. plc (NYSE:ETN) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 2,326 shares of the industrial products company’s stock, valued at approximately $772,000.

A number of other large investors also recently modified their holdings of ETN. Robeco Institutional Asset Management B.V. grew its position in shares of Eaton by 9.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 251,983 shares of the industrial products company’s stock valued at $83,517,000 after purchasing an additional 22,637 shares in the last quarter. Kanawha Capital Management LLC bought a new stake in Eaton during the third quarter valued at $207,000. Hazlett Burt & Watson Inc. grew its position in Eaton by 36.7% during the third quarter. Hazlett Burt & Watson Inc. now owns 451 shares of the industrial products company’s stock worth $149,000 after buying an additional 121 shares in the last quarter. Impax Asset Management Group plc bought a new position in Eaton in the 3rd quarter worth about $2,347,000. Finally, FSM Wealth Advisors LLC purchased a new stake in shares of Eaton in the 3rd quarter valued at about $216,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on ETN. Barclays cut their price objective on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a report on Monday. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a report on Tuesday, January 28th. Wells Fargo & Company restated an “equal weight” rating on shares of Eaton in a research report on Thursday, February 13th. JPMorgan Chase & Co. cut their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Finally, Citigroup lowered their price target on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $364.65.

Eaton Trading Up 0.2 %

NYSE:ETN opened at $278.94 on Wednesday. The firm has a market capitalization of $110.24 billion, a P/E ratio of 29.36, a P/E/G ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The company has a fifty day moving average of $324.45 and a 200 day moving average of $332.49.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter last year, the company earned $2.55 earnings per share. On average, research analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Monday, March 10th. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.49%. Eaton’s payout ratio is 43.79%.

Insider Activity at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is owned by corporate 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.