Regent Peak Wealth Advisors LLC Invests $532,000 in Eaton Co. plc (NYSE:ETN)

Regent Peak Wealth Advisors LLC bought a new position in Eaton Co. plc (NYSE:ETN) in the 4th quarter, Holdings Channel.com reports. The firm bought 1,604 shares of the industrial products company’s stock, valued at approximately $532,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Eaton by 253.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after acquiring an additional 1,629,856 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after purchasing an additional 1,070,024 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Eaton by 32.8% in the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after purchasing an additional 597,700 shares during the period. Wulff Hansen & CO. boosted its holdings in Eaton by 31,255.0% during the second quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock worth $149,928,000 after buying an additional 476,639 shares in the last quarter. Finally, Electron Capital Partners LLC grew its position in Eaton by 8,348.9% during the second quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company’s stock worth $140,008,000 after buying an additional 441,239 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Down 0.3 %

NYSE ETN traded down $1.09 during trading hours on Tuesday, hitting $347.47. 1,059,974 shares of the company’s stock were exchanged, compared to its average volume of 2,091,840. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The firm has a market capitalization of $137.32 billion, a P/E ratio of 36.96, a price-to-earnings-growth ratio of 2.74 and a beta of 1.06. The business’s 50 day moving average is $354.73 and its 200-day moving average is $328.29. 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 earnings results 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 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 quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the company earned $2.47 earnings per share. As a group, analysts anticipate that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were given 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 (DPR) is currently 40.00%.

Insider Activity at Eaton

In other news, Director Gregory R. Page sold 4,000 shares of Eaton 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ETN has been the topic of several research analyst reports. UBS Group assumed coverage on Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target on the stock. Citigroup boosted their price objective on shares of Eaton from $394.00 to $440.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Wells Fargo & Company dropped their target price on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating for the company in a report on Tuesday. 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 report on Monday, September 9th. Finally, Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and lifted their price objective for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.