Outlook Wealth Advisors LLC Raises Position in Eaton Co. plc (NYSE:ETN)

Outlook Wealth Advisors LLC raised its holdings in shares of Eaton Co. plc (NYSE:ETN) by 8.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,473 shares of the industrial products company’s stock after buying 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 & Exchange Commission.

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

Insider Buying and Selling at Eaton

In related news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now owns 51,422 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,981 shares of company stock valued at $27,660,117. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on ETN. Royal Bank of Canada increased their target price on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Sanford C. Bernstein started coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective on the stock. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and raised their price objective for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. 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, January 7th. Finally, Bank of America lifted their price target on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average target price of $368.89.

Eaton Stock Performance

Shares of NYSE:ETN opened at $342.35 on Thursday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $355.38 and a 200-day moving average price of $329.33. The company has a market cap of $135.30 billion, a price-to-earnings ratio of 36.42, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06. Eaton Co. plc has a 12 month low of $236.04 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Eaton’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.47 EPS. As a group, equities analysts anticipate that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is currently 40.00%.

Eaton 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.