Eaton Co. plc (NYSE:ETN) Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management raised its holdings in Eaton Co. plc (NYSE:ETN) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,500 shares of the industrial products company’s stock after buying an additional 212 shares during the period. Ritholtz Wealth Management’s holdings in Eaton were worth $2,157,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Edgestream Partners L.P. boosted its holdings in Eaton by 98.5% in the second quarter. Edgestream Partners L.P. now owns 1,989 shares of the industrial products company’s stock valued at $624,000 after purchasing an additional 987 shares in the last quarter. Seven Eight Capital LP purchased a new stake in shares of Eaton during the 2nd quarter worth approximately $270,000. XTX Topco Ltd boosted its holdings in shares of Eaton by 14.8% in the 2nd quarter. XTX Topco Ltd now owns 6,415 shares of the industrial products company’s stock valued at $2,011,000 after buying an additional 827 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Eaton by 9.2% in the 2nd quarter. Intech Investment Management LLC now owns 30,985 shares of the industrial products company’s stock valued at $9,715,000 after buying an additional 2,611 shares during the last quarter. Finally, Ieq Capital LLC grew its position in shares of Eaton by 14.7% in the 2nd quarter. Ieq Capital LLC now owns 27,717 shares of the industrial products company’s stock valued at $8,690,000 after buying an additional 3,548 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Price Performance

Shares of ETN opened at $346.54 on Friday. 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 Co. plc has a twelve month low of $236.20 and a twelve month high of $379.99. The firm has a market capitalization of $136.95 billion, a PE ratio of 36.87, a P/E/G ratio of 2.27 and a beta of 1.06. The stock’s 50 day moving average is $354.73 and its two-hundred day moving average is $329.53.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period in the previous year, the firm earned $2.47 EPS. The business’s revenue was up 7.9% on a year-over-year basis. Research analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were paid a dividend of $0.94 per share. 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 (DPR) is 40.00%.

Insider Activity at Eaton

In related news, 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 directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction dated Friday, November 1st. The stock was 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. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,981 shares of company stock valued at $27,660,117 in the last ninety days. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Royal Bank of Canada upped their target price on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Mizuho raised their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and boosted their price objective for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Finally, UBS Group started coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $368.89.

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.