Unique Wealth LLC Boosts Stock Position in Eaton Co. plc (NYSE:ETN)

Unique Wealth LLC lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 16.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,348 shares of the industrial products company’s stock after purchasing an additional 613 shares during the period. Unique Wealth LLC’s holdings in Eaton were worth $1,443,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ETN. Groupama Asset Managment grew its position in shares of Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 4,298 shares during the period. Morse Asset Management Inc purchased a new stake in Eaton in the third quarter worth $33,000. West Financial Advisors LLC purchased a new position in shares of Eaton during the 3rd quarter valued at $35,000. DT Investment Partners LLC bought a new position in shares of Eaton during the 3rd quarter worth $37,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in Eaton in the 3rd quarter valued at about $44,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on ETN. Royal Bank of Canada lifted their target price on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Citigroup lowered their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday. UBS Group began coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target for the company. Sanford C. Bernstein started coverage on Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective on the stock. Finally, Mizuho upped their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $367.61.

Insiders Place Their Bets

In other news, insider Craig Arnold sold 61,569 shares of the company’s 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 $182,780,769.20. This represents a 10.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now directly owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is currently owned by corporate insiders.

Eaton Stock Down 0.2 %

Shares of ETN opened at $340.60 on Tuesday. Eaton Co. plc has a 1 year low of $236.04 and a 1 year high of $379.99. The firm has a market cap of $134.61 billion, a P/E ratio of 36.23, a P/E/G ratio of 2.70 and a beta of 1.06. The stock has a 50 day simple moving average of $355.33 and a two-hundred day simple moving average of $329.15. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the previous year, the company posted $2.47 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. On average, analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.10%. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

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.