Diversify Wealth Management LLC Buys 47 Shares of Eaton Co. plc (NYSE:ETN)

Diversify Wealth Management LLC boosted its stake in Eaton Co. plc (NYSE:ETN) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,488 shares of the industrial products company’s stock after purchasing an additional 47 shares during the period. Diversify Wealth Management LLC’s holdings in Eaton were worth $1,191,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Edgestream Partners L.P. grew its position in Eaton by 98.5% during the 2nd quarter. Edgestream Partners L.P. now owns 1,989 shares of the industrial products company’s stock worth $624,000 after acquiring an additional 987 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of Eaton during the second quarter worth about $270,000. King Luther Capital Management Corp increased its stake in shares of Eaton by 19.4% in the second quarter. King Luther Capital Management Corp now owns 3,327 shares of the industrial products company’s stock valued at $1,043,000 after buying an additional 541 shares during the period. Pacer Advisors Inc. raised its holdings in Eaton by 4.7% in the 2nd quarter. Pacer Advisors Inc. now owns 32,897 shares of the industrial products company’s stock valued at $10,315,000 after buying an additional 1,483 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Eaton by 110.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 57,820 shares of the industrial products company’s stock worth $18,129,000 after buying an additional 30,319 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Up 0.4 %

Shares of Eaton stock opened at $346.54 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton Co. plc has a 52 week low of $236.20 and a 52 week high of $379.99. The stock has a 50 day moving average price of $354.32 and a two-hundred day moving average price of $329.97. The stock has a market capitalization of $136.95 billion, a PE ratio of 36.87, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the previous year, the business posted $2.47 EPS. Eaton’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Insider Activity at Eaton

In other news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was 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 of the company’s stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,981 shares of company stock valued at $27,660,117. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on ETN shares. Mizuho upped their price target 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. Sanford C. Bernstein started coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price for the company. Bank of America upped their price target on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Citigroup lowered their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, UBS Group started coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $368.89.

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.