Biltmore Wealth Management LLC Buys 37 Shares of Eaton Co. plc (NYSE:ETN)

Biltmore Wealth Management LLC lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,985 shares of the industrial products company’s stock after acquiring an additional 37 shares during the quarter. Eaton comprises approximately 0.6% of Biltmore Wealth Management LLC’s holdings, making the stock its 20th largest position. Biltmore Wealth Management LLC’s holdings in Eaton were worth $1,323,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Horizon Bancorp Inc. IN lifted its position in Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 74 shares during the last quarter. Morse Asset Management Inc bought a new position in shares of Eaton in the third quarter worth about $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton during the 3rd quarter worth about $35,000. DT Investment Partners LLC bought a new stake in Eaton during the 3rd quarter valued at approximately $37,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in Eaton in the 3rd quarter valued at approximately $44,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction 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 in the company, valued at approximately $17,241,796.60. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is owned by corporate insiders.

Eaton Trading Down 0.2 %

Shares of Eaton stock opened at $340.60 on Tuesday. Eaton Co. plc has a 12-month low of $236.04 and a 12-month high of $379.99. The stock has a market capitalization of $134.61 billion, a P/E ratio of 36.23, a price-to-earnings-growth ratio of 2.70 and a beta of 1.06. The company has a 50-day simple moving average of $355.33 and a 200 day simple moving average of $329.15. 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, beating analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. Eaton’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.47 earnings per share. Research analysts expect 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 issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Monday, November 4th. Eaton’s payout ratio is presently 40.00%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ETN. Barclays increased their price objective on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. UBS Group assumed coverage on shares of Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target on the stock. Wells Fargo & Company cut their price objective on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Jefferies Financial Group lifted 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. Finally, Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and upped their price target for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average target price of $367.61.

Eaton Company 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.