Maxwell Wealth Strategies Inc. Has $7.45 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Maxwell Wealth Strategies Inc. boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 51.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,088 shares of the industrial products company’s stock after acquiring an additional 7,545 shares during the quarter. Eaton accounts for approximately 3.2% of Maxwell Wealth Strategies Inc.’s investment portfolio, making the stock its 4th biggest holding. Maxwell Wealth Strategies Inc.’s holdings in Eaton were worth $7,454,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ETN. IAM Advisory LLC acquired a new position in shares of Eaton during the 2nd quarter worth approximately $599,000. Interval Partners LP raised its position in shares of 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 purchasing an additional 68,693 shares during the period. Scientech Research LLC lifted its stake in shares of Eaton by 285.5% during the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock worth $1,801,000 after buying an additional 4,254 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in Eaton by 25.9% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 27,609 shares of the industrial products company’s stock valued at $8,657,000 after buying an additional 5,676 shares during the last quarter. Finally, Leavell Investment Management Inc. raised its holdings in Eaton by 67.6% in the 2nd quarter. Leavell Investment Management Inc. now owns 8,556 shares of the industrial products company’s stock valued at $2,683,000 after acquiring an additional 3,452 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ETN. Mizuho boosted their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Barclays reduced their target price on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Raymond James decreased their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $374.00 price objective on shares of Eaton in a report on Friday, November 1st. Finally, Wells Fargo & Company raised their target price on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $357.83.

Eaton Stock Performance

NYSE:ETN opened at $358.99 on Friday. Eaton Co. plc has a twelve month low of $224.52 and a twelve month high of $373.49. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The stock’s 50-day simple moving average is $335.82 and its 200 day simple moving average is $321.35. The firm has a market capitalization of $141.87 billion, a PE ratio of 38.19, a price-to-earnings-growth ratio of 2.96 and a beta of 1.01.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.47 EPS. On average, analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.05%. Eaton’s dividend payout ratio is currently 40.00%.

Insiders Place Their Bets

In related news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Karenann K. Terrell bought 500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were bought at an average cost of $298.97 per share, with a total value of $149,485.00. Following the completion of the transaction, the director now owns 500 shares in the company, valued at $149,485. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 68,705 shares of company stock valued at $24,516,346 in the last 90 days. Corporate insiders own 0.53% of the company’s stock.

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.