Eaton Co. plc (NYSE:ETN) Shares Purchased by Assetmark Inc.

Assetmark Inc. boosted its holdings in Eaton Co. plc (NYSE:ETN) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,265 shares of the industrial products company’s stock after acquiring an additional 2,347 shares during the period. Assetmark Inc.’s holdings in Eaton were worth $11,040,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Noble Wealth Management PBC acquired a new position in Eaton in the fourth quarter valued at approximately $30,000. Groupama Asset Managment lifted its holdings 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 last quarter. Horizon Bancorp Inc. IN lifted its holdings in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares during the last quarter. Morse Asset Management Inc acquired a new position in Eaton in the third quarter valued at approximately $33,000. Finally, Activest Wealth Management lifted its stake in Eaton by 621.4% during the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 87 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

NYSE ETN opened at $277.03 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. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The company has a market capitalization of $108.59 billion, a PE ratio of 29.16, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a fifty day moving average of $322.11 and a two-hundred day moving average of $331.80.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 quarter in the prior year, the business earned $2.55 earnings per share. As a group, analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.04 per share. This is an increase from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.50%. Eaton’s dividend payout ratio is 43.79%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ETN shares. Barclays decreased their price target on Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a research note on Monday. Citigroup decreased their price target on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company decreased their price target on Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Melius Research restated a “hold” rating and set a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. decreased their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $362.58.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.