Moss Adams Wealth Advisors LLC Increases Stake in Eaton Co. plc (NYSE:ETN)

Moss Adams Wealth Advisors LLC grew its holdings in Eaton Co. plc (NYSE:ETN) by 9.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 851 shares of the industrial products company’s stock after buying an additional 75 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Eaton were worth $282,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. raised its holdings in Eaton by 48.9% in 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 acquiring an additional 13,497 shares during the last quarter. Interval Partners LP increased its holdings in shares of Eaton by 82.7% in the second 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 last quarter. Scientech Research LLC lifted its position in Eaton by 285.5% during the second quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock worth $1,801,000 after buying an additional 4,254 shares in the last quarter. Eastover Investment Advisors LLC acquired a new position in Eaton during the fourth quarter worth $6,167,000. Finally, Neville Rodie & Shaw Inc. grew its holdings in Eaton by 6.8% in 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 buying an additional 2,428 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Performance

Shares of ETN stock opened at $346.54 on Friday. The company has a market cap of $136.95 billion, a P/E ratio of 36.87, a PEG ratio of 2.27 and a beta of 1.06. The firm has a fifty day moving average price of $354.32 and a 200 day moving average price of $329.77. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 12 month low of $236.20 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. Sell-side analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were given 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 1.09%. Eaton’s dividend payout ratio is presently 40.00%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ETN. Bank of America boosted their price target on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and increased their price target for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. UBS Group initiated 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. JPMorgan Chase & Co. lowered their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Barclays lifted their target price on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company 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 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 completion of the sale, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,981 shares of company stock worth $27,660,117. Corporate insiders own 0.33% of the company’s stock.

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.