Sound View Wealth Advisors Group LLC Buys 38 Shares of Eaton Co. plc (NYSE:ETN)

Sound View Wealth Advisors Group LLC lifted its position in Eaton Co. plc (NYSE:ETN) by 1.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,587 shares of the industrial products company’s stock after purchasing an additional 38 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Eaton were worth $1,190,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Wetzel Investment Advisors Inc. increased its holdings in shares of Eaton by 0.9% during the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock worth $1,029,000 after buying an additional 28 shares in the last quarter. Westmount Partners LLC increased its holdings in Eaton by 3.1% during the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 30 shares in the last quarter. Signal Advisors Wealth LLC raised its position in Eaton by 3.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after purchasing an additional 30 shares during the last quarter. Lantz Financial LLC boosted its stake in Eaton by 4.8% in the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 30 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of Eaton by 2.1% during the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock worth $513,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other Eaton 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 sale, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.53% of the stock is currently owned by insiders.

Eaton Stock Performance

Shares of NYSE:ETN opened at $285.29 on Monday. The firm’s 50 day simple moving average is $321.13 and its 200 day simple moving average is $332.19. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The company has a market capitalization of $111.83 billion, a price-to-earnings ratio of 30.03, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping 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 firm earned $2.55 EPS. As a group, sell-side analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a $1.04 dividend. This is an increase from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Monday, March 10th. Eaton’s dividend payout ratio is 43.79%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. UBS Group assumed coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target on the stock. Barclays decreased their price target on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research report on Tuesday, January 28th. Evercore ISI decreased their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada lowered their target price on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $362.58.

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.