Outlook Wealth Advisors LLC Acquires 116 Shares of Eaton Co. plc (NYSE:ETN)

Outlook Wealth Advisors LLC lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 8.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,473 shares of the industrial products company’s stock after purchasing an additional 116 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Eaton were worth $489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. One Capital Management LLC acquired a new position in Eaton in the 2nd quarter worth about $511,000. Edgestream Partners L.P. grew its holdings in shares of Eaton by 98.5% during the second quarter. Edgestream Partners L.P. now owns 1,989 shares of the industrial products company’s stock worth $624,000 after purchasing an additional 987 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its stake in shares of Eaton by 81.8% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 16,686 shares of the industrial products company’s stock valued at $5,232,000 after buying an additional 7,510 shares during the period. SYSTM Wealth Solutions LLC raised its holdings in Eaton by 97.5% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 2,246 shares of the industrial products company’s stock valued at $704,000 after buying an additional 1,109 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its position in Eaton by 1.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 168,435 shares of the industrial products company’s stock worth $52,813,000 after buying an additional 1,836 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Price Performance

Shares of NYSE:ETN opened at $342.35 on Thursday. The stock’s 50 day moving average is $355.38 and its 200-day moving average is $329.33. Eaton Co. plc has a twelve month low of $236.04 and a twelve month high of $379.99. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $135.30 billion, a price-to-earnings ratio of 36.42, a PEG ratio of 2.27 and a beta of 1.06.

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

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were paid 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 1.10%. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Analysts Set New Price Targets

Several equities analysts have issued reports on ETN shares. Mizuho upped their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company decreased their price objective on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Royal Bank of Canada lifted their target price on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and upped their price target for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Finally, UBS Group assumed coverage on Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $368.89.

Insider Activity

In related news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares in the company, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 approximately $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock valued at $27,660,117 in the last ninety days. 0.33% of the stock is currently owned by insiders.

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.