Tudor Financial Inc. Invests $265,000 in Eaton Co. plc (NYSE:ETN)

Tudor Financial Inc. acquired a new stake in shares of Eaton Co. plc (NYSE:ETN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 801 shares of the industrial products company’s stock, valued at approximately $265,000.

Other hedge funds also recently added to or reduced their stakes in the company. Interval Partners LP boosted its position in Eaton by 82.7% during the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock valued at $47,571,000 after purchasing an additional 68,693 shares during the period. Scientech Research LLC boosted its holdings in shares of Eaton by 285.5% during the second quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock valued at $1,801,000 after acquiring an additional 4,254 shares during the period. B. Riley Wealth Advisors Inc. grew its position in shares of Eaton by 25.9% during the second quarter. B. Riley Wealth Advisors Inc. now owns 27,609 shares of the industrial products company’s stock worth $8,657,000 after acquiring an additional 5,676 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Eaton by 2.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 136,773 shares of the industrial products company’s stock valued at $42,885,000 after purchasing an additional 3,076 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in Eaton during the 3rd quarter valued at about $1,160,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Performance

Shares of NYSE ETN opened at $358.71 on Friday. Eaton Co. plc has a one year low of $231.84 and a one year high of $379.99. The business’s 50-day moving average price is $354.70 and its two-hundred day moving average price is $326.37. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The company has a market capitalization of $141.76 billion, a P/E ratio of 38.16, a price-to-earnings-growth ratio of 2.74 and a beta of 1.03.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the firm earned $2.47 earnings per share. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. Analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business 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. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.05%. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Insider Activity

In related news, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,981 shares of company stock valued at $24,100,317. Insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and lifted their target price for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Sanford C. Bernstein initiated coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Jefferies Financial Group upped their price target on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, UBS Group initiated coverage on shares of Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $367.83.

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.