Rise Advisors LLC Reduces Stock Position in Eaton Co. plc (NYSE:ETN)

Rise Advisors LLC trimmed its position in Eaton Co. plc (NYSE:ETN) by 4.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,668 shares of the industrial products company’s stock after selling 71 shares during the period. Rise Advisors LLC’s holdings in Eaton were worth $553,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ETN. Breakwater Investment Management increased its holdings in shares of Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares during the period. Groupama Asset Managment grew its position in Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after buying an additional 4,298 shares in the last quarter. Morse Asset Management Inc bought a new position in Eaton in the 3rd quarter worth about $33,000. West Financial Advisors LLC purchased a new stake in shares of Eaton in the 3rd quarter valued at about $35,000. Finally, DT Investment Partners LLC bought a new stake in shares of Eaton during the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Down 0.2 %

Shares of ETN stock traded down $0.59 during trading hours on Tuesday, hitting $347.97. 1,158,208 shares of the company’s stock traded hands, compared to its average volume of 2,113,070. 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 stock’s fifty day simple moving average is $354.73 and its two-hundred day simple moving average is $328.29. Eaton Co. plc has a 12-month low of $234.20 and a 12-month high of $379.99. The stock has a market cap of $137.52 billion, a price-to-earnings ratio of 37.02, a PEG ratio of 2.74 and a beta of 1.06.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 21.97% and a net margin of 15.32%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.47 earnings per share. On average, analysts expect that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Insider Activity

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. This represents a 4.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction dated 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. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,981 shares of company stock valued at $27,660,117 over the last ninety days. 0.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ETN has been the topic of several research analyst reports. Mizuho upped their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group upped their price objective on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Wells Fargo & Company cut their target price on Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a research note on Tuesday. Raymond James decreased their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Finally, Barclays lifted their price target on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $369.28.

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.