Kaydan Wealth Management Inc. Invests $203,000 in Eaton Co. plc (NYSE:ETN)

Kaydan Wealth Management Inc. purchased a new stake in Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 612 shares of the industrial products company’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Edgestream Partners L.P. grew its position in Eaton by 98.5% in the second quarter. Edgestream Partners L.P. now owns 1,989 shares of the industrial products company’s stock valued at $624,000 after acquiring an additional 987 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of Eaton during the second quarter valued at about $270,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Eaton by 1.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 10,045 shares of the industrial products company’s stock worth $3,150,000 after purchasing an additional 116 shares during the last quarter. King Luther Capital Management Corp increased its stake in shares of Eaton by 19.4% in the second quarter. King Luther Capital Management Corp now owns 3,327 shares of the industrial products company’s stock valued at $1,043,000 after buying an additional 541 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in Eaton by 4.7% in the 2nd quarter. Pacer Advisors Inc. now owns 32,897 shares of the industrial products company’s stock valued at $10,315,000 after buying an additional 1,483 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ETN shares. Sanford C. Bernstein began coverage on shares of Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Jefferies Financial Group increased their price objective on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. JPMorgan Chase & Co. cut their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. UBS Group assumed coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target for the company. Finally, Mizuho lifted their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $368.89.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,981 shares of company stock valued at $27,660,117. 0.33% of the stock is owned by corporate insiders.

Eaton Stock Performance

Shares of ETN opened at $346.54 on Monday. The stock has a 50-day moving average of $354.32 and a 200-day moving average of $329.89. Eaton Co. plc has a one year low of $236.20 and a one year high of $379.99. 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 has a market cap of $136.95 billion, a PE ratio of 36.87, a P/E/G ratio of 2.27 and a beta of 1.06.

Eaton (NYSE:ETN) last issued its earnings results 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. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations 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 period last year, the business earned $2.47 EPS. On average, equities research analysts predict that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were issued a $0.94 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. Eaton’s dividend payout ratio is presently 40.00%.

Eaton Company 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.