Mission Wealth Management LP Buys 218 Shares of Eaton Co. plc (NYSE:ETN)

Mission Wealth Management LP increased its stake in shares of Eaton Co. plc (NYSE:ETN) by 4.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,017 shares of the industrial products company’s stock after acquiring an additional 218 shares during the period. Mission Wealth Management LP’s holdings in Eaton were worth $1,665,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Noble Wealth Management PBC bought a new stake in shares of Eaton during the 4th quarter worth approximately $30,000. Groupama Asset Managment increased its stake in shares of Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN raised its holdings in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc acquired a new stake in Eaton in the 3rd quarter valued at about $33,000. Finally, Activest Wealth Management grew its holdings 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 during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Down 5.3 %

Shares of ETN opened at $277.71 on Tuesday. The firm has a 50 day simple moving average of $325.70 and a two-hundred day simple moving average of $332.62. The company has a market cap of $109.75 billion, a P/E ratio of 29.23, a P/E/G ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. 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 (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the company earned $2.55 earnings per share. Research analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

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

Insider Buying and Selling

In other news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on ETN shares. Citigroup dropped their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research note on Tuesday, January 28th. Royal Bank of Canada restated an “outperform” rating on shares of Eaton in a research report on Thursday, February 13th. Jefferies Financial Group upped their target price on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Melius Research reiterated a “hold” rating and set a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Eaton presently has an average rating of “Moderate Buy” and an average target price of $364.65.

Eaton 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.