Wolff Wiese Magana LLC Lowers Stock Position in Eaton Co. plc (NYSE:ETN)

15 Jan 2025, 17:00 by Michael Walen · The Markets Daily

Wolff Wiese Magana LLC lessened its holdings in Eaton Co. plc (NYSE:ETN – Free Report) by 16.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 295 shares of the industrial products company’s stock after selling 60 shares during the period. Wolff Wiese Magana LLC’s holdings in Eaton were worth $98,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. increased its holdings in Eaton by 48.9% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after purchasing an additional 13,497 shares during the last quarter. Interval Partners LP raised its holdings in Eaton by 82.7% in the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock valued at $47,571,000 after acquiring an additional 68,693 shares in the last quarter. Scientech Research LLC boosted its stake in Eaton by 285.5% during the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock valued at $1,801,000 after acquiring an additional 4,254 shares during the last quarter. Neville Rodie & Shaw Inc. grew its holdings in Eaton by 6.8% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company’s stock worth $12,739,000 after acquiring an additional 2,428 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in shares of Eaton in the 3rd quarter worth about $1,160,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s 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. The trade was a 4.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,981 shares of company stock valued at $27,660,117. Company insiders own 0.53% of the company’s stock.

Eaton Trading Up 2.0 %

Eaton stock opened at $347.06 on Wednesday. The stock has a market capitalization of $137.16 billion, a PE ratio of 36.92, a price-to-earnings-growth ratio of 2.70 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a 12-month low of $236.04 and a 12-month high of $379.99. The firm has a 50 day simple moving average of $355.38 and a 200-day simple moving average of $329.33.

Eaton (NYSE:ETN – Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the company posted $2.47 EPS. The business’s revenue was up 7.9% compared to the same quarter last year. As a group, equities research analysts expect that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a dividend of $0.94 per share. The ex-dividend date was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. Eaton’s dividend payout ratio is 40.00%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank of Canada lifted their price objective on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Citigroup lowered their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday. Bank of America lifted their target price on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Mizuho raised their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, UBS Group started coverage on Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus price target of $368.89.

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About Eaton

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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.