Eaton Co. plc (NYSE:ETN) Shares Bought by Hilltop Partners LLC

Hilltop Partners LLC lifted its position in shares of Eaton Co. plc (NYSE:ETN) by 489.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 7,389 shares of the industrial products company’s stock after acquiring an additional 6,136 shares during the quarter. Eaton makes up about 0.8% of Hilltop Partners LLC’s investment portfolio, making the stock its 21st biggest position. Hilltop Partners LLC’s holdings in Eaton were worth $2,452,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ETN. Groupama Asset Managment boosted its stake in Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 4,298 shares during the period. Horizon Bancorp Inc. IN boosted its position in Eaton by 321.7% during 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 stake in Eaton in the third quarter worth $33,000. Activest Wealth Management lifted its stake in Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after buying an additional 87 shares during the last quarter. Finally, Hager Investment Management Services LLC acquired a new position in shares of Eaton during the fourth quarter valued at $38,000. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the firm’s 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 completion of the transaction, the director now directly 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 filing with the SEC, which is available through this link. 0.33% of the stock is currently owned by company insiders.

Eaton Stock Performance

Shares of ETN opened at $290.08 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The firm’s 50 day moving average is $327.80 and its 200-day moving average is $332.26. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99. The stock has a market capitalization of $114.64 billion, a P/E ratio of 30.53, a P/E/G ratio of 2.64 and a beta of 1.05.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) 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 business earned $2.55 EPS. Equities research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors 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. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.43%. Eaton’s dividend payout ratio (DPR) is 39.58%.

Analysts Set New Price Targets

A number of analysts recently weighed in on ETN shares. Melius Research reaffirmed a “hold” rating and issued a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Bank of America raised their price target on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Melius downgraded 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. Mizuho raised their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, UBS Group assumed coverage on Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target for the company. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $366.05.

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.