Drive Wealth Management LLC Has $364,000 Stock Position in Eaton Co. plc (NYSE:ETN)

Drive Wealth Management LLC boosted its stake in Eaton Co. plc (NYSE:ETNFree Report) by 3.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,513 shares of the industrial products company’s stock after buying an additional 49 shares during the period. Drive Wealth Management LLC’s holdings in Eaton were worth $364,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of ETN. RB Capital Management LLC grew its stake in Eaton by 3.5% in the 1st quarter. RB Capital Management LLC now owns 2,759 shares of the industrial products company’s stock valued at $419,000 after buying an additional 94 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Eaton by 74.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 101,412 shares of the industrial products company’s stock worth $15,390,000 after purchasing an additional 43,381 shares in the last quarter. Baird Financial Group Inc. grew its position in shares of Eaton by 0.6% during the 1st quarter. Baird Financial Group Inc. now owns 374,204 shares of the industrial products company’s stock worth $56,790,000 after purchasing an additional 2,057 shares in the last quarter. Mather Group LLC. grew its position in shares of Eaton by 9.1% during the 1st quarter. Mather Group LLC. now owns 2,682 shares of the industrial products company’s stock worth $407,000 after purchasing an additional 223 shares in the last quarter. Finally, Ergoteles LLC acquired a new position in shares of Eaton during the 1st quarter worth approximately $1,188,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the transaction, the insider now directly owns 29,712 shares in the company, valued at approximately $8,116,427.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the completion of the sale, the insider now directly owns 630 shares in the company, valued at $171,360. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the sale, the insider now owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,969 shares of company stock worth $10,904,774. 0.33% of the stock is currently owned by company insiders.

Eaton Price Performance

NYSE:ETN traded up $2.84 on Tuesday, hitting $314.87. The company had a trading volume of 1,407,514 shares, compared to its average volume of 1,763,593. The stock has a market capitalization of $125.79 billion, a price-to-earnings ratio of 39.08, a PEG ratio of 2.59 and a beta of 1.07. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average of $283.16 and a two-hundred day moving average of $244.42. Eaton Co. plc has a 52 week low of $155.38 and a 52 week high of $317.02.

Eaton (NYSE:ETNGet Free Report) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.47 by $0.08. The business had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.06 EPS. On average, research analysts anticipate that Eaton Co. plc will post 10.25 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were given a $0.94 dividend. This is a boost from Eaton’s previous quarterly dividend of $0.86. This represents a $3.76 annualized dividend and a yield of 1.19%. The ex-dividend date was Friday, March 8th. Eaton’s dividend payout ratio is 46.88%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of Eaton from $246.00 to $286.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 14th. Citigroup increased their target price on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Bank of America increased their target price on shares of Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $250.00 to $300.00 in a research report on Tuesday. Finally, The Goldman Sachs Group upped their price target on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $281.73.

Check Out Our Latest Report on Eaton

About Eaton

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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