Eaton Co. plc (NYSE:ETN) Shares Purchased by OMNI 360 Wealth Inc.

OMNI 360 Wealth Inc. boosted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 15.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,175 shares of the industrial products company’s stock after buying an additional 160 shares during the quarter. OMNI 360 Wealth Inc.’s holdings in Eaton were worth $389,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ETN. Breakwater Investment Management boosted its holdings in Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 78 shares during the period. Proffitt & Goodson Inc. acquired a new stake in Eaton in the second quarter valued at approximately $29,000. Redmont Wealth Advisors LLC acquired a new position in Eaton during the 1st quarter worth approximately $33,000. LGT Financial Advisors LLC purchased a new stake in shares of Eaton in the 2nd quarter valued at approximately $33,000. Finally, West Financial Advisors LLC acquired a new stake in shares of Eaton in the 3rd quarter valued at $35,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Eaton news, insider Michael Yelton sold 3,136 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the transaction, the insider now directly owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the sale, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock worth $15,809,326 over the last 90 days. Company insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on ETN shares. Raymond James dropped their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Jefferies Financial Group increased their price objective on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Mizuho boosted their target price on Eaton from $355.00 to $365.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Royal Bank of Canada dropped their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Wells Fargo & Company boosted their price objective on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average price target of $340.06.

Eaton Stock Performance

Eaton stock traded down $0.80 during mid-day trading on Friday, reaching $344.49. 1,176,378 shares of the company were exchanged, compared to its average volume of 1,416,014. The firm has a market cap of $137.14 billion, a PE ratio of 37.90, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The firm’s 50-day simple moving average is $318.89 and its two-hundred day simple moving average is $317.47. Eaton Co. plc has a twelve month low of $193.77 and a twelve month high of $349.74.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. Equities analysts predict that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be issued a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.09%. Eaton’s dividend payout ratio is currently 41.36%.

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.