Glass Wealth Management Co LLC Buys 1,070 Shares of Eaton Co. plc (NYSE:ETN)

Glass Wealth Management Co LLC increased its stake in Eaton Co. plc (NYSE:ETN) by 27.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,975 shares of the industrial products company’s stock after purchasing an additional 1,070 shares during the quarter. Glass Wealth Management Co LLC’s holdings in Eaton were worth $1,651,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Victory Capital Management Inc. raised its holdings in Eaton by 14.6% in the 4th quarter. Victory Capital Management Inc. now owns 383,376 shares of the industrial products company’s stock worth $127,231,000 after purchasing an additional 48,848 shares during the period. SWS Partners raised its holdings in Eaton by 3.4% during the fourth quarter. SWS Partners now owns 10,063 shares of the industrial products company’s stock valued at $3,340,000 after acquiring an additional 329 shares during the period. Commerzbank Aktiengesellschaft FI raised its holdings in Eaton by 52.5% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 4,142 shares of the industrial products company’s stock valued at $1,377,000 after acquiring an additional 1,426 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Eaton by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,255,566 shares of the industrial products company’s stock valued at $748,555,000 after acquiring an additional 37,138 shares during the period. Finally, HFR Wealth Management LLC raised its holdings in Eaton by 6.8% during the fourth quarter. HFR Wealth Management LLC now owns 1,409 shares of the industrial products company’s stock valued at $468,000 after acquiring an additional 90 shares during the period. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction dated 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by corporate insiders.

Eaton Stock Performance

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

Eaton (NYSE:ETN) last issued its quarterly earnings data 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 in the previous year, the company posted $2.55 earnings per share. On average, analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors 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 dividend on an annualized basis and a dividend yield of 1.49%. Eaton’s payout ratio is currently 43.79%.

Analysts Set New Price Targets

A number of research firms have commented on ETN. JPMorgan Chase & Co. decreased their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Jefferies Financial Group raised their price target on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Melius Research reissued a “hold” rating and set a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Citigroup decreased their price target on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, UBS Group initiated coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $364.65.

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.