WealthPLAN Partners LLC Has $468,000 Stake in Eaton Co. PLC (ETN)
WealthPLAN Partners LLC decreased its position in shares of Eaton Co. PLC (NYSE:ETN) by 3.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,939 shares of the industrial products company’s stock after selling 220 shares during the quarter. WealthPLAN Partners LLC’s holdings in Eaton were worth $468,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of ETN. Bank of New York Mellon Corp increased its holdings in Eaton by 9.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,820,730 shares of the industrial products company’s stock worth $591,563,000 after acquiring an additional 586,855 shares during the period. CIBC World Markets Inc. increased its holdings in Eaton by 71.9% during the 3rd quarter. CIBC World Markets Inc. now owns 32,307 shares of the industrial products company’s stock worth $2,802,000 after acquiring an additional 13,517 shares during the period. Pictet Asset Management Ltd. bought a new stake in Eaton during the 3rd quarter worth approximately $45,172,000. Quantbot Technologies LP increased its holdings in shares of Eaton by 150.7% in the 3rd quarter. Quantbot Technologies LP now owns 43,563 shares of the industrial products company’s stock worth $3,778,000 after buying an additional 26,184 shares during the last quarter. Finally, Aviva PLC increased its holdings in shares of Eaton by 41.5% in the 3rd quarter. Aviva PLC now owns 312,396 shares of the industrial products company’s stock worth $27,094,000 after buying an additional 91,691 shares during the last quarter. 78.11% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Curtis J. Hutchins sold 37,625 shares of the firm’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $76.02, for a total value of $2,860,252.50. Following the completion of the sale, the insider now directly owns 15,872 shares of the company’s stock, valued at approximately $1,206,589.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Richard H. Fearon sold 1,335 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $80.19, for a total transaction of $107,053.65. The disclosure for this sale can be found here. Insiders have sold a total of 73,214 shares of company stock valued at $5,709,455 in the last three months. 0.70% of the stock is currently owned by corporate insiders.
Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, January 31st. The industrial products company reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.03. The business had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.42 billion. Eaton had a net margin of 9.93% and a return on equity of 14.06%. Sell-side analysts expect that Eaton Co. PLC will post 5.86 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Saturday, March 9th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.84 annualized dividend and a yield of 3.57%. Eaton’s payout ratio is currently 52.69%.
A number of equities analysts have recently commented on ETN shares. Robert W. Baird set a $88.00 price target on shares of Eaton and gave the stock a “buy” rating in a report on Friday, January 25th. Vertical Research raised shares of Eaton from a “hold” rating to a “buy” rating in a report on Monday, March 4th. Morgan Stanley set a $82.00 price target on shares of Eaton and gave the stock a “hold” rating in a report on Saturday, February 2nd. Wolfe Research lowered shares of Eaton from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 8th. Finally, Wells Fargo & Co increased their price target on shares of Eaton from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. Eaton currently has an average rating of “Buy” and an average price target of $86.80.
Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
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