HFR Wealth Management LLC Increases Stock Position in Eaton Co. plc (NYSE:ETN)

HFR Wealth Management LLC boosted its stake in Eaton Co. plc (NYSE:ETN) by 6.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,409 shares of the industrial products company’s stock after purchasing an additional 90 shares during the quarter. HFR Wealth Management LLC’s holdings in Eaton were worth $468,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ETN. Chicago Partners Investment Group LLC lifted its stake in Eaton by 100.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 3,078 shares of the industrial products company’s stock worth $1,062,000 after purchasing an additional 1,546 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Eaton by 9.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 251,983 shares of the industrial products company’s stock worth $83,517,000 after purchasing an additional 22,637 shares in the last quarter. Kanawha Capital Management LLC purchased a new stake in Eaton in the 3rd quarter worth $207,000. Vestor Capital LLC purchased a new stake in Eaton in the 3rd quarter worth $4,118,000. Finally, Wetzel Investment Advisors Inc. lifted its stake in Eaton by 1.5% in the 3rd quarter. Wetzel Investment Advisors Inc. now owns 3,073 shares of the industrial products company’s stock worth $1,019,000 after purchasing an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of research reports. Barclays reduced their target price on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a report on Monday. UBS Group initiated coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a report on Tuesday, January 28th. Citigroup reduced 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, January 13th. Finally, Melius Research restated a “hold” rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $364.65.

Eaton Price Performance

Eaton stock opened at $277.71 on Tuesday. The stock has a market cap of $109.75 billion, a price-to-earnings ratio of 29.23, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The firm has a 50-day moving average of $325.70 and a two-hundred day moving average of $332.62.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same period in the previous year, the business posted $2.55 earnings per share. On average, research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.50%. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. Eaton’s payout ratio is 43.79%.

About Eaton

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.