Lifeworks Advisors LLC Increases Stock Holdings in Eaton Co. plc (NYSE:ETN)

Lifeworks Advisors LLC raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 10.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,917 shares of the industrial products company’s stock after purchasing an additional 901 shares during the quarter. Lifeworks Advisors LLC’s holdings in Eaton were worth $3,291,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ETN. Noble Wealth Management PBC purchased a new position in shares of Eaton during the fourth quarter valued at about $30,000. Horizon Bancorp Inc. IN boosted its position in Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares in the last quarter. Morse Asset Management Inc purchased a new position in shares of Eaton during the 3rd quarter worth approximately $33,000. Activest Wealth Management raised its position in shares of Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 87 shares in the last quarter. Finally, Hager Investment Management Services LLC purchased a new position in shares of Eaton in the 4th quarter valued at approximately $38,000. 82.97% of the stock is currently owned by institutional investors.

Insider Transactions at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

ETN has been the topic of several recent research reports. Royal Bank of Canada reduced their price target on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research note on Thursday. Jefferies Financial Group upped their target price on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Evercore ISI lowered their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company cut their price objective on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Melius Research reiterated a “hold” rating and set a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $362.58.

Eaton Trading Up 2.8 %

Eaton stock opened at $285.29 on Friday. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The business’s fifty day moving average is $321.13 and its 200 day moving average is $331.71. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The stock has a market capitalization of $111.83 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS 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 period last year, the firm earned $2.55 earnings per share. On average, sell-side analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.46%. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. Eaton’s dividend payout ratio is presently 43.79%.

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.