HCR Wealth Advisors Purchases 6,084 Shares of Eaton Corporation, PLC $ETN

Key Points

• HCR Wealth Advisors nearly doubled its stake in Eaton, buying an additional 6,084 shares (+99.8%) to hold 12,180 shares worth about $3.88 million at quarter-end.
• Insider Sternadt Paulo Ruiz sold 10,707 shares at an average price of $390.26 (≈$4.18 million), cutting his direct holding by 27.86%.
• Wall Street sentiment is broadly positive with a consensus rating of “Moderate Buy” and a consensus target of $396.50, while Eaton raised its quarterly dividend to $1.10 ($4.40 annual, ~1.1% yield).

HCR Wealth Advisors grew its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 99.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,180 shares of the industrial products company's stock after acquiring an additional 6,084 shares during the period. HCR Wealth Advisors' holdings in Eaton were worth $3,879,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Fayez Sarofim & Co lifted its holdings in Eaton by 3.4% during the 3rd quarter. Fayez Sarofim & Co now owns 1,256,177 shares of the industrial products company's stock worth $474,444,000 after buying an additional 40,792 shares during the period. Williams Jones Wealth Management LLC. lifted its holdings in Eaton by 3.3% during the 3rd quarter. Williams Jones Wealth Management LLC. now owns 515,587 shares of the industrial products company's stock worth $192,958,000 after buying an additional 16,422 shares during the period. SG Americas Securities LLC lifted its holdings in Eaton by 438.9% during the 4th quarter. SG Americas Securities LLC now owns 364,877 shares of the industrial products company's stock worth $116,217,000 after buying an additional 297,166 shares during the period. Bartlett & CO. Wealth Management LLC lifted its holdings in Eaton by 9.2% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 238,030 shares of the industrial products company's stock worth $75,815,000 after buying an additional 19,958 shares during the period. Finally, Cullen Frost Bankers Inc. lifted its holdings in Eaton by 6.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 162,634 shares of the industrial products company's stock worth $60,866,000 after buying an additional 9,233 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Sternadt Paulo Ruiz sold 10,707 shares of the business's stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $390.26, for a total value of $4,178,513.82. Following the transaction, the insider directly owned 27,729 shares of the company's stock, valued at $10,821,519.54. The trade was a 27.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on ETN. HSBC raised Eaton from a "hold" rating to a "buy" rating and set a $400.00 target price on the stock in a report on Friday, January 16th. Morgan Stanley reaffirmed an "overweight" rating and set a $425.00 target price on shares of Eaton in a report on Wednesday, February 4th. Citigroup lifted their target price on Eaton from $435.00 to $464.00 and gave the stock a "buy" rating in a report on Monday, April 13th. BMO Capital Markets began coverage on Eaton in a report on Friday, March 27th. They set an "outperform" rating and a $428.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their target price on Eaton from $440.00 to $406.00 and set an "overweight" rating on the stock in a report on Friday, January 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $396.50.

Eaton Stock Up 3.5%

Shares of NYSE:ETN opened at $406.52 on Friday. The company has a market capitalization of $157.72 billion, a price-to-earnings ratio of 38.86, a P/E/G ratio of 2.71 and a beta of 1.17. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.32 and a quick ratio of 0.81. The business's 50-day moving average is $372.09 and its 200-day moving average is $357.60. Eaton Corporation, PLC has a 1 year low of $255.10 and a 1 year high of $410.91.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The industrial products company reported $3.23 earnings per share (EPS) for the quarter. The company had revenue of $7.06 billion for the quarter. Eaton had a return on equity of 25.00% and a net margin of 14.89%. Equities research analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Tuesday, March 10th were paid a $1.10 dividend. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.1%. This is a positive change from Eaton's previous quarterly dividend of $1.04. Eaton's dividend payout ratio (DPR) is presently 42.07%.

Eaton Company Profile

Eaton NYSE: ETN is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company's offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.

Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.