997 Shares in Eaton Co. plc (NYSE:ETN) Bought by Asset Allocation & Management Company LLC

Asset Allocation & Management Company LLC acquired a new position in shares of Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 997 shares of the industrial products company’s stock, valued at approximately $331,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Breakwater Investment Management boosted its position in Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares in the last quarter. Morse Asset Management Inc purchased a new stake in shares of Eaton in the third quarter valued at $33,000. West Financial Advisors LLC purchased a new stake in shares of Eaton in the third quarter valued at $35,000. DT Investment Partners LLC purchased a new stake in shares of Eaton in the third quarter valued at $37,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of Eaton in the third quarter valued at $44,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Down 0.3 %

Shares of Eaton stock traded down $0.94 during midday trading on Monday, hitting $340.51. The company’s stock had a trading volume of 1,112,998 shares, compared to its average volume of 2,066,733. The firm has a market capitalization of $134.57 billion, a P/E ratio of 36.22, a PEG ratio of 2.70 and a beta of 1.06. The stock has a 50-day simple moving average of $355.14 and a 200-day simple moving average of $328.96. 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 Co. plc has a 1-year low of $236.04 and a 1-year high of $379.99.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion during 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 revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.47 earnings per share. As a group, sell-side analysts expect that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Dividend Announcement

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

Insider Transactions at Eaton

In related news, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,981 shares of company stock valued at $27,660,117 in the last three months. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ETN. Jefferies Financial Group increased their target price on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Bank of America increased their target price on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Mizuho increased their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and upped their price target for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Finally, Citigroup upped their price target on Eaton from $394.00 to $440.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $369.28.

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.