RMR Wealth Builders Sells 141 Shares of Eaton Co. plc (NYSE:ETN)

RMR Wealth Builders trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN) by 8.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,567 shares of the industrial products company’s stock after selling 141 shares during the period. RMR Wealth Builders’ holdings in Eaton were worth $520,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Eaton by 253.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after purchasing an additional 1,629,856 shares in the last quarter. International Assets Investment Management LLC increased its position in Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after buying an additional 1,070,024 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Eaton by 32.8% in the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after acquiring an additional 597,700 shares in the last quarter. Electron Capital Partners LLC grew its stake in Eaton by 8,348.9% in the second quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company’s stock valued at $140,008,000 after acquiring an additional 441,239 shares during the period. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of Eaton in the 3rd quarter worth $137,794,000. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of recent research reports. Jefferies Financial Group raised their target price on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Wells Fargo & Company dropped their price target on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Bank of America increased their price objective on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Sanford C. Bernstein assumed coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. Finally, UBS Group assumed coverage on Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target for the company. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus price target of $368.89.

Eaton Price Performance

Shares of Eaton stock opened at $342.35 on Thursday. The company’s fifty day simple moving average is $355.38 and its two-hundred day simple moving average is $329.33. Eaton Co. plc has a 12-month low of $236.04 and a 12-month high of $379.99. The firm has a market cap of $135.30 billion, a PE ratio of 36.42, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45.

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

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Insider Activity

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction on 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 completion of the sale, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % 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 in the last quarter. 0.33% of the stock is owned by company 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.