Eaton Co. plc (NYSE:ETN) Shares Acquired by J.Safra Asset Management Corp

J.Safra Asset Management Corp grew its stake in Eaton Co. plc (NYSE:ETN) by 44.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,283 shares of the industrial products company’s stock after purchasing an additional 392 shares during the period. J.Safra Asset Management Corp’s holdings in Eaton were worth $426,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of ETN. Noble Wealth Management PBC acquired a new position in Eaton in the fourth quarter valued at approximately $30,000. Horizon Bancorp Inc. IN lifted its stake in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc acquired a new position in shares of Eaton in the 3rd quarter valued at $33,000. Activest Wealth Management raised its position 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 acquiring an additional 87 shares during the period. Finally, Hager Investment Management Services LLC acquired a new position in shares of Eaton in the fourth quarter worth about $38,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Melius Research reiterated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. UBS Group assumed coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target for the company. Barclays reduced their target price on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a research note on Monday. Citigroup reduced their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Eaton in a research report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $364.65.

Insiders Place Their Bets

In other news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is owned by insiders.

Eaton Stock Up 0.2 %

ETN stock opened at $278.94 on Wednesday. The company has a market cap of $110.24 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 2.64 and a beta of 1.05. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The firm has a 50-day moving average of $324.45 and a two-hundred day moving average of $332.49.

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

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be given a dividend of $1.04 per share. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.49%. The ex-dividend date is Monday, March 10th. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

About Eaton

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.