Glass Wealth Management Co LLC Buys 1,070 Shares of Eaton Co. plc (NYSE:ETN)

Glass Wealth Management Co LLC increased its stake in Eaton Co. plc (NYSE:ETN) by 27.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,975 shares of the industrial products company’s stock after acquiring an additional 1,070 shares during the period. Glass Wealth Management Co LLC’s holdings in Eaton were worth $1,651,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Noble Wealth Management PBC bought a new stake in shares of Eaton in the 4th quarter valued at about $30,000. Horizon Bancorp Inc. IN raised its position in Eaton by 321.7% during 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 last quarter. Morse Asset Management Inc bought a new position in Eaton during the 3rd quarter valued at approximately $33,000. Activest Wealth Management raised its position in Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 87 shares during the last quarter. Finally, Hager Investment Management Services LLC bought a new position in Eaton during the 4th quarter valued at approximately $38,000. Institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction on 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 transaction, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on ETN shares. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a research report on Tuesday, January 28th. Barclays lowered their price target on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a research report on Monday. Evercore ISI lowered their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Eaton in a research report on Thursday, February 13th. Finally, Citigroup reduced their target price on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $364.65.

Eaton Stock Performance

Shares of ETN opened at $278.94 on Wednesday. The business’s fifty day simple moving average is $324.45 and its two-hundred day simple moving average is $332.49. The company has a market cap of $110.24 billion, a price-to-earnings ratio of 29.36, a P/E/G ratio of 2.64 and a beta of 1.05. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the previous year, the business posted $2.55 EPS. Research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.49%. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. Eaton’s dividend payout ratio is presently 43.79%.

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.