RMR Wealth Builders Sells 141 Shares of Eaton Co. plc (NYSE:ETN)

RMR Wealth Builders reduced its position in Eaton Co. plc (NYSE:ETN) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,567 shares of the industrial products company’s stock after selling 141 shares during the period. RMR Wealth Builders’ holdings in Eaton were worth $520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of ETN. Outlook Wealth Advisors LLC boosted its position in Eaton by 8.5% in the fourth quarter. Outlook Wealth Advisors LLC now owns 1,473 shares of the industrial products company’s stock worth $489,000 after purchasing an additional 116 shares during the last quarter. Essex Savings Bank grew its stake in shares of Eaton by 16.0% during the 4th quarter. Essex Savings Bank now owns 3,928 shares of the industrial products company’s stock valued at $1,304,000 after acquiring an additional 541 shares during the period. BluePath Capital Management LLC raised its position in shares of Eaton by 17.4% during the 4th quarter. BluePath Capital Management LLC now owns 3,469 shares of the industrial products company’s stock valued at $1,182,000 after purchasing an additional 514 shares during the period. HCR Wealth Advisors raised its holdings in Eaton by 17.9% during the fourth quarter. HCR Wealth Advisors now owns 1,723 shares of the industrial products company’s stock valued at $572,000 after acquiring an additional 262 shares during the period. Finally, Pinnacle Bancorp Inc. lifted its holdings in shares of Eaton by 18.9% in the fourth quarter. Pinnacle Bancorp Inc. now owns 647 shares of the industrial products company’s stock worth $215,000 after buying an additional 103 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 0.6 %

Shares of Eaton stock opened at $342.35 on Thursday. Eaton Co. plc has a twelve month low of $236.04 and a twelve month high of $379.99. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The business’s 50 day simple moving average is $355.38 and its 200-day simple moving average is $329.33. The stock has a market capitalization of $135.30 billion, a price-to-earnings ratio of 36.42, a PEG ratio of 2.27 and a beta of 1.06.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the firm earned $2.47 EPS. Equities research analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a dividend of $0.94 per share. The ex-dividend date was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.10%. Eaton’s dividend payout ratio is 40.00%.

Insider Activity

In related news, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares in the company, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock worth $27,660,117 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the topic of several recent research reports. Citigroup decreased their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday. JPMorgan Chase & Co. decreased their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday. Royal Bank of Canada raised their price target on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Barclays upped their target price on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Finally, Bank of America boosted their price objective on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $368.89.

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.