Moss Adams Wealth Advisors LLC Purchases 75 Shares of Eaton Co. plc (NYSE:ETN)

Moss Adams Wealth Advisors LLC raised its position in shares of Eaton Co. plc (NYSE:ETN) by 9.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 851 shares of the industrial products company’s stock after purchasing 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 have also made changes to their positions in the company. Horizon Bancorp Inc. IN raised its holdings in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares in the last quarter. Morse Asset Management Inc purchased a new position in Eaton during the 3rd quarter valued at about $33,000. West Financial Advisors LLC bought a new stake in shares of Eaton in the 3rd quarter valued at about $35,000. DT Investment Partners LLC purchased a new stake in shares of Eaton in the 3rd quarter worth approximately $37,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Eaton during the third quarter valued at approximately $44,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction that occurred on 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 completion of 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock valued at $27,660,117 in the last ninety days. Insiders own 0.33% of the company’s stock.

Eaton Price Performance

Shares of ETN opened at $346.54 on Friday. The firm has a market capitalization of $136.95 billion, a PE ratio of 36.87, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The company’s fifty day moving average price is $354.32 and its 200-day moving average price is $329.77. Eaton Co. plc has a 1-year low of $236.20 and a 1-year high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period in the prior year, the company earned $2.47 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. On average, equities research analysts predict that Eaton Co. plc will post 10.8 EPS 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 paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.09%. The ex-dividend date was Monday, November 4th. Eaton’s payout ratio is 40.00%.

Wall Street Analyst Weigh In

ETN has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Citigroup decreased their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Mizuho lifted their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Royal Bank of Canada increased their price target on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Evercore ISI downgraded shares of 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 research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average target price of $368.89.

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.