Quotient Wealth Partners LLC Acquires Shares of 1,313 Eaton Co. plc (NYSE:ETN)

Quotient Wealth Partners LLC acquired a new stake in Eaton Co. plc (NYSE:ETNFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,313 shares of the industrial products company’s stock, valued at approximately $316,000.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Eaton by 36.0% in the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after purchasing an additional 5,270,331 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Eaton during the third quarter worth $340,500,000. Deutsche Bank AG raised its stake in shares of Eaton by 97.5% in the third quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock valued at $396,767,000 after acquiring an additional 918,422 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in Eaton in the third quarter valued at $67,305,000. Finally, International Assets Investment Management LLC grew its stake in Eaton by 21,664.8% during the 4th quarter. International Assets Investment Management LLC now owns 316,242 shares of the industrial products company’s stock worth $76,157,000 after purchasing an additional 314,789 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the sale, the insider now owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction on Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the transaction, the insider now directly owns 69,472 shares in the company, valued at approximately $20,244,140.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the completion of the transaction, the insider now owns 5,086 shares in the company, valued at $1,687,738.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,174 shares of company stock valued at $5,098,000. Insiders own 0.33% of the company’s stock.

Eaton Trading Up 1.4 %

Shares of Eaton stock traded up $4.57 during trading hours on Wednesday, reaching $335.02. The stock had a trading volume of 709,913 shares, compared to its average volume of 1,992,425. The firm has a market capitalization of $133.94 billion, a price-to-earnings ratio of 39.88, a P/E/G ratio of 2.59 and a beta of 1.06. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. Eaton Co. plc has a 1 year low of $165.24 and a 1 year high of $338.15. The firm has a 50 day simple moving average of $314.32 and a two-hundred day simple moving average of $269.27.

Eaton (NYSE:ETNGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the firm earned $1.88 EPS. Eaton’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts anticipate that Eaton Co. plc will post 10.47 earnings per share for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is 44.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ETN shares. JPMorgan Chase & Co. raised their price objective on shares of Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Bank of America raised their price objective on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. Evercore ISI raised their price objective on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. HSBC raised their price objective on shares of Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Finally, The Goldman Sachs Group lifted their price target on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Check Out Our Latest Analysis on ETN

Eaton Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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