Regent Peak Wealth Advisors LLC Acquires New Position in Eaton Co. plc (NYSE:ETN)

Regent Peak Wealth Advisors LLC bought a new position in shares of Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,604 shares of the industrial products company’s stock, valued at approximately $532,000.

Other large investors have also made changes to their positions in the company. Breakwater Investment Management boosted its stake 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 buying an additional 78 shares during the last quarter. Groupama Asset Managment raised its holdings 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 acquiring an additional 4,298 shares during the period. Morse Asset Management Inc acquired a new position in shares of Eaton during the 3rd quarter valued at about $33,000. West Financial Advisors LLC acquired a new stake in Eaton during the third quarter worth about $35,000. Finally, DT Investment Partners LLC purchased a new position in Eaton during the third quarter worth about $37,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on ETN shares. UBS Group started coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target on the stock. Wells Fargo & Company decreased their price target on Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Citigroup raised their price objective on Eaton from $394.00 to $440.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Royal Bank of Canada increased their target price on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Raymond James reduced their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $369.28.

Insiders Place Their Bets

In related news, insider Craig Arnold sold 61,569 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This represents a 10.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the transaction, the director now owns 51,422 shares in the company, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,981 shares of company stock valued at $27,660,117. 0.53% of the stock is currently owned by insiders.

Eaton Stock Down 0.3 %

Shares of Eaton stock traded down $1.09 during trading on Tuesday, hitting $347.47. 1,059,974 shares of the stock were exchanged, compared to its average volume of 2,091,840. The stock has a market cap of $137.32 billion, a price-to-earnings ratio of 36.96, a price-to-earnings-growth ratio of 2.74 and a beta of 1.06. The firm’s 50-day moving average price is $354.73 and its 200 day moving average price is $328.29. 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 $234.20 and a 12-month high of $379.99.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (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%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.47 EPS. As a group, analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were given a $0.94 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

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.