HFR Wealth Management LLC Boosts Holdings in Eaton Co. plc (NYSE:ETN)

HFR Wealth Management LLC boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,409 shares of the industrial products company’s stock after acquiring an additional 90 shares during the period. HFR Wealth Management LLC’s holdings in Eaton were worth $468,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Noble Wealth Management PBC purchased a new stake in Eaton during the fourth quarter valued at approximately $30,000. Groupama Asset Managment raised its holdings in shares of Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after buying an additional 4,298 shares during the last quarter. 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 worth $32,000 after buying an additional 74 shares during the last quarter. Morse Asset Management Inc purchased a new position in shares of Eaton in the third quarter worth $33,000. Finally, Activest Wealth Management raised its holdings in shares of Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after buying an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays decreased their price target on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a report on Monday. Evercore ISI decreased their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Bank of America raised their price target on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Jefferies Financial Group raised their price target on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of Eaton in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $364.65.

Insider Activity

In other news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the sale, the director now owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.53% of the company’s stock.

Eaton Stock Down 5.3 %

ETN opened at $277.71 on Tuesday. The company has a fifty day moving average of $325.70 and a two-hundred day moving average of $332.62. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The stock has a market capitalization of $109.75 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 2.64 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same period last year, the business earned $2.55 EPS. On average, research analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be given a $1.04 dividend. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.50%. Eaton’s dividend payout ratio (DPR) is 43.79%.

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.