Rise Advisors LLC Has $553,000 Stock Holdings in Eaton Co. plc (NYSE:ETN)

Rise Advisors LLC lessened its holdings in Eaton Co. plc (NYSE:ETN) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,668 shares of the industrial products company’s stock after selling 71 shares during the quarter. Rise Advisors LLC’s holdings in Eaton were worth $553,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. grew its stake in shares of Eaton by 48.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after purchasing an additional 13,497 shares during the last quarter. Interval Partners LP grew its position in shares of Eaton by 82.7% in the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock valued at $47,571,000 after buying an additional 68,693 shares during the last quarter. Scientech Research LLC raised its position in shares of 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 acquiring an additional 4,254 shares during the last quarter. Wolverine Asset Management LLC acquired a new position in shares of Eaton in the third quarter worth approximately $1,160,000. Finally, Heritage Wealth Management Inc. bought a new stake in Eaton in the second quarter valued at approximately $3,263,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were 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 in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 51,422 shares in the company, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,981 shares of company stock worth $27,660,117 in the last quarter. 0.53% of the stock is currently owned by company insiders.

Eaton Stock Down 0.2 %

Shares of NYSE:ETN traded down $0.59 during mid-day trading on Tuesday, hitting $347.97. 1,158,208 shares of the company traded hands, compared to its average volume of 2,113,070. The stock has a 50-day moving average price of $354.73 and a two-hundred day moving average price of $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 P/E ratio of 37.02, a P/E/G ratio of 2.74 and a beta of 1.06. 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 (NYSE:ETN) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the firm earned $2.47 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities research analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ETN. Wells Fargo & Company dropped their price target on shares of Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Jefferies Financial Group boosted their target price on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Sanford C. Bernstein initiated coverage on Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Citigroup upped their target price on Eaton from $394.00 to $440.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada lifted their target price on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a report on Friday. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $369.28.

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.