Annex Advisory Services LLC Has $9.37 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Annex Advisory Services LLC lifted its position in shares of Eaton Co. plc (NYSE:ETN) by 4.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 28,233 shares of the industrial products company’s stock after purchasing an additional 1,169 shares during the quarter. Annex Advisory Services LLC’s holdings in Eaton were worth $9,370,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Kaydan Wealth Management Inc. bought a new stake in Eaton in the 4th quarter valued at $203,000. Clarius Group LLC increased its stake in Eaton by 16.1% in the fourth quarter. Clarius Group LLC now owns 3,505 shares of the industrial products company’s stock valued at $1,163,000 after acquiring an additional 486 shares during the period. BNC Wealth Management LLC acquired a new position in Eaton in the fourth quarter worth about $5,960,000. Sandy Cove Advisors LLC bought a new position in Eaton during the fourth quarter worth about $210,000. Finally, Bowman & Co S.C. boosted its holdings in Eaton by 1.5% during the fourth quarter. Bowman & Co S.C. now owns 12,444 shares of the industrial products company’s stock valued at $4,130,000 after purchasing an additional 178 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of Eaton 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 transaction, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders 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

A number of equities analysts have recently issued reports on ETN shares. Citigroup dropped their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. JPMorgan Chase & Co. cut their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Bank of America upped their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Mizuho boosted 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. Finally, Sanford C. Bernstein started coverage on shares of Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective for the company. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Eaton presently has an average rating of “Moderate Buy” and an average target price of $368.89.

Eaton Stock Up 0.4 %

Shares of NYSE ETN opened at $346.54 on Monday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm 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. The firm’s 50-day moving average is $354.32 and its 200-day moving average is $329.89. Eaton Co. plc has a 1 year low of $236.20 and a 1 year high of $379.99.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.47 earnings per share. Equities analysts expect that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were issued a $0.94 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. Eaton’s dividend payout ratio (DPR) is currently 40.00%.

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.