Unique Wealth LLC Purchases 613 Shares of Eaton Co. plc (NYSE:ETN)

Unique Wealth LLC lifted its position in shares of Eaton Co. plc (NYSE:ETN) by 16.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,348 shares of the industrial products company’s stock after acquiring an additional 613 shares during the period. Unique Wealth LLC’s holdings in Eaton were worth $1,443,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ETN. B. Riley Wealth Advisors Inc. raised its stake in shares of Eaton by 48.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after purchasing an additional 13,497 shares during the last quarter. Interval Partners LP raised its holdings in shares of Eaton by 82.7% during the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock valued at $47,571,000 after purchasing an additional 68,693 shares during the last quarter. Scientech Research LLC lifted its position in Eaton by 285.5% during the second quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock valued at $1,801,000 after purchasing an additional 4,254 shares during the period. Neville Rodie & Shaw Inc. grew its position in Eaton by 6.8% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company’s stock worth $12,739,000 after purchasing an additional 2,428 shares during the period. Finally, Wolverine Asset Management LLC purchased a new stake in Eaton during the 3rd quarter valued at $1,160,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on ETN shares. UBS Group started coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Mizuho upped their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Royal Bank of Canada raised their price objective on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Jefferies Financial Group upped their target price on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Bank of America lifted their price target on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $367.61.

Eaton Stock Down 0.2 %

ETN opened at $340.60 on Tuesday. Eaton Co. plc has a 52 week low of $236.04 and a 52 week high of $379.99. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The firm has a 50-day simple moving average of $355.33 and a two-hundred day simple moving average of $329.15. The company has a market capitalization of $134.61 billion, a PE ratio of 36.23, a price-to-earnings-growth ratio of 2.70 and a beta of 1.06.

Eaton (NYSE:ETN) last released its quarterly earnings data 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. 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 the consensus estimate of $6.37 billion. During the same quarter in the previous year, the company posted $2.47 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. Analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were given a $0.94 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.10%. Eaton’s dividend payout ratio is currently 40.00%.

Insider Activity

In other Eaton news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the transaction, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the sale, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,981 shares of company stock valued at $27,660,117 in the last ninety days. Insiders own 0.53% of the company’s stock.

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.