Collective Family Office LLC Boosts Holdings in Eaton Co. plc (NYSE:ETN)

Collective Family Office LLC grew its holdings in shares of Eaton Co. plc (NYSE:ETN – Get Rating) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,187 shares of the industrial products company’s stock after acquiring an additional 64 shares during the quarter. Collective Family Office LLC’s holdings in Eaton were worth $343,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ETN. Alpha Paradigm Partners LLC bought a new position in shares of Eaton in the second quarter worth approximately $31,000. TimeScale Financial Inc. grew its holdings in shares of Eaton by 102.5% in the third quarter. TimeScale Financial Inc. now owns 243 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 123 shares during the last quarter. Ten Capital Wealth Advisors LLC bought a new position in shares of Eaton in the third quarter worth approximately $32,000. Align Wealth Management LLC bought a new position in shares of Eaton in the fourth quarter worth approximately $37,000. Finally, Karp Capital Management Corp bought a new position in shares of Eaton in the third quarter worth approximately $39,000. 80.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ETN has been the topic of several recent analyst reports. Bank of America raised their target price on shares of Eaton from $180.00 to $200.00 in a report on Wednesday, March 8th. Morgan Stanley lifted their price target on shares of Eaton from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, March 3rd. Oppenheimer cut shares of Eaton from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 6th. Wells Fargo & Company lifted their price target on shares of Eaton from $169.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, February 9th. Finally, UBS Group lifted their price target on shares of Eaton from $173.00 to $197.00 in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.

Insiders Place Their Bets

In other Eaton news, insider Joao V. Faria sold 2,000 shares of the business’s stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $169.00, for a total value of $338,000.00. Following the completion of the transaction, the insider now owns 67,166 shares of the company’s stock, valued at approximately $11,351,054. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Eaton news, insider Joao V. Faria sold 2,000 shares of the business’s stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $169.00, for a total transaction of $338,000.00. Following the completion of the sale, the insider now directly owns 67,166 shares in the company, valued at approximately $11,351,054. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joao V. Faria sold 5,204 shares of the business’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $174.55, for a total value of $908,358.20. Following the sale, the insider now owns 76,314 shares of the company’s stock, valued at $13,320,608.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,377 shares of company stock valued at $5,864,193. 0.56% of the stock is owned by insiders.

Eaton Stock Down 2.6 %

Shares of ETN traded down $4.23 during trading hours on Friday, hitting $160.15. The company had a trading volume of 6,000,390 shares, compared to its average volume of 1,988,002. The firm has a fifty day moving average price of $167.27 and a 200-day moving average price of $155.97. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.84 and a current ratio of 1.38. The stock has a market capitalization of $63.74 billion, a price-to-earnings ratio of 26.04, a P/E/G ratio of 1.89 and a beta of 1.13. Eaton Co. plc has a 52-week low of $122.50 and a 52-week high of $178.75.

Eaton (NYSE:ETN – Get Rating) last posted its quarterly earnings results on Wednesday, February 8th. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.01. The firm had revenue of $5.38 billion during the quarter, compared to analyst estimates of $5.34 billion. Eaton had a return on equity of 18.31% and a net margin of 11.86%. Eaton’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.72 EPS. On average, equities research analysts forecast that Eaton Co. plc will post 8.24 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Monday, March 6th will be given a $0.86 dividend. This is a positive change from Eaton’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Friday, March 3rd. This represents a $3.44 dividend on an annualized basis and a yield of 2.15%. Eaton’s payout ratio is 55.94%.

About Eaton

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Eaton Corp. Plc is a power management company, which provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through the following segments: Electrical Americas and Electrical Global, Aerospace, Vehicle, and eMobility. The Electrical Americas and Electrical Global segments engage in sales contracts for electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and service.