StrongBox Wealth LLC Lowers Position in Eaton Co. plc (NYSE:ETN)

StrongBox Wealth LLC reduced its position in shares of Eaton Co. plc (NYSE:ETN) by 1.0% in the 4th quarter, HoldingsChannel reports. The firm owned 20,941 shares of the industrial products company’s stock after selling 211 shares during the period. Eaton comprises approximately 2.9% of StrongBox Wealth LLC’s holdings, making the stock its 12th largest position. StrongBox Wealth LLC’s holdings in Eaton were worth $6,950,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ETN. Groupama Asset Managment grew its stake 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 worth $31,000 after purchasing an additional 4,298 shares during the period. Horizon Bancorp Inc. IN increased its holdings in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of Eaton during the 3rd quarter worth $33,000. West Financial Advisors LLC purchased a new stake in shares of Eaton in the 3rd quarter worth about $35,000. Finally, DT Investment Partners LLC acquired a new stake in Eaton in the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on ETN shares. Barclays upped their price target on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. UBS Group assumed coverage on Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Mizuho raised their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Sanford C. Bernstein initiated coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective for the company. Finally, Royal Bank of Canada raised their target price on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $368.89.

Eaton Trading Up 0.6 %

Shares of ETN opened at $342.35 on Thursday. 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 Co. plc has a 12 month low of $236.04 and a 12 month high of $379.99. The stock has a market cap of $135.30 billion, a PE ratio of 36.42, a P/E/G ratio of 2.27 and a beta of 1.06. The stock’s 50-day moving average is $355.38 and its two-hundred day moving average is $329.33.

Eaton (NYSE:ETN) last released its quarterly 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. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period in the previous year, the company posted $2.47 EPS. Eaton’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.10%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is 40.00%.

Insiders Place Their Bets

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock worth $27,660,117 in the last quarter. 0.33% of the stock is owned by corporate insiders.

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.