Fiduciary Alliance LLC Increases Stake in Eaton Co. plc (NYSE:ETN)

Fiduciary Alliance LLC boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 0.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 29,649 shares of the industrial products company’s stock after purchasing an additional 200 shares during the quarter. Eaton comprises about 1.0% of Fiduciary Alliance LLC’s holdings, making the stock its 19th biggest holding. Fiduciary Alliance LLC’s holdings in Eaton were worth $9,839,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. grew its position in Eaton by 48.9% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock valued at $13,533,000 after purchasing an additional 13,497 shares during the last quarter. Interval Partners LP boosted its holdings in shares of 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 acquiring an additional 68,693 shares during the last quarter. Scientech Research LLC boosted its holdings in shares of Eaton by 285.5% during the 2nd 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 last quarter. Neville Rodie & Shaw Inc. boosted its holdings in shares of Eaton by 6.8% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company’s stock valued at $12,739,000 after acquiring an additional 2,428 shares during the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Eaton during the 3rd quarter valued at about $1,160,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and raised their price target for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Bank of America raised their price target on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Barclays raised their price objective on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Royal Bank of Canada raised their price objective on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company dropped their price objective on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and an average target price of $369.28.

Insider Activity at Eaton

In other Eaton news, insider Craig Arnold sold 61,569 shares of Eaton 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 transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton 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 $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,981 shares of company stock valued at $27,660,117. 0.53% of the stock is owned by corporate insiders.

Eaton Price Performance

Shares of Eaton stock traded down $0.94 on Monday, hitting $340.51. 493,887 shares of the company traded hands, compared to its average volume of 1,972,903. The stock has a market capitalization of $134.57 billion, a P/E ratio of 36.22, a price-to-earnings-growth ratio of 2.70 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton Co. plc has a 52 week low of $236.04 and a 52 week high of $379.99. The business has a 50-day simple moving average of $355.14 and a 200 day simple moving average of $328.96.

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, beating the consensus estimate of $2.80 by $0.04. The firm had revenue of $6.35 billion for 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%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the business 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Monday, November 4th. 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.