SVB Wealth LLC Invests $16.47 Million in Eaton Co. plc (NYSE:ETN)

SVB Wealth LLC purchased a new position in Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 49,638 shares of the industrial products company’s stock, valued at approximately $16,473,000.

Other institutional investors also recently added to or reduced their stakes in the company. Tower Bridge Advisors grew its stake in Eaton by 1.3% in the 4th quarter. Tower Bridge Advisors now owns 33,879 shares of the industrial products company’s stock worth $11,243,000 after acquiring an additional 450 shares in the last quarter. Waterway Wealth Management LLC raised its stake in shares of Eaton by 10.1% during the fourth quarter. Waterway Wealth Management LLC now owns 762 shares of the industrial products company’s stock valued at $253,000 after acquiring an additional 70 shares in the last quarter. Private Trust Co. NA boosted its holdings in shares of Eaton by 5.5% in the fourth quarter. Private Trust Co. NA now owns 7,961 shares of the industrial products company’s stock valued at $2,642,000 after purchasing an additional 412 shares during the period. Hilltop Partners LLC grew its stake in Eaton by 489.7% in the fourth quarter. Hilltop Partners LLC now owns 7,389 shares of the industrial products company’s stock worth $2,452,000 after purchasing an additional 6,136 shares in the last quarter. Finally, Fort Sheridan Advisors LLC increased its holdings in Eaton by 9.0% during the 4th quarter. Fort Sheridan Advisors LLC now owns 1,361 shares of the industrial products company’s stock worth $452,000 after purchasing an additional 112 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 1.0 %

Shares of ETN stock opened at $293.21 on Friday. The stock’s fifty day moving average price is $326.90 and its 200 day moving average price is $332.29. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The company has a market cap of $115.88 billion, a price-to-earnings ratio of 30.86, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. 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 issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter last year, the business earned $2.55 EPS. On average, research analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.42%. This is a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is currently 39.58%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Bank of America upped their target price on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research note on Tuesday, January 28th. Mizuho raised their target price 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 reaffirmed an “outperform” rating on shares of Eaton in a research report on Thursday, February 13th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Eaton in a 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $366.05.

Insider Transactions at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was 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 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 legal filing with the SEC, which is available at this link. Insiders own 0.33% of the company’s stock.

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.