Marshall Financial Group LLC Grows Stock Holdings in Eaton Co. plc (NYSE:ETN)

Marshall Financial Group LLC boosted its position in Eaton Co. plc (NYSE:ETN) by 10.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,594 shares of the industrial products company’s stock after acquiring an additional 244 shares during the period. Marshall Financial Group LLC’s holdings in Eaton were worth $813,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Congress Wealth Management LLC DE grew its stake in shares of Eaton by 8.1% during the 4th quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company’s stock valued at $18,479,000 after buying an additional 5,725 shares during the period. Norden Group LLC purchased a new stake in shares of Eaton during the 1st quarter valued at $2,176,000. Weiss Asset Management LP purchased a new stake in shares of Eaton during the 4th quarter valued at $1,001,000. Prospector Partners LLC grew its stake in shares of Eaton by 0.6% during the 4th quarter. Prospector Partners LLC now owns 71,307 shares of the industrial products company’s stock valued at $17,172,000 after buying an additional 415 shares during the period. Finally, Spire Wealth Management grew its stake in shares of Eaton by 66.0% during the 4th quarter. Spire Wealth Management now owns 14,914 shares of the industrial products company’s stock valued at $3,648,000 after buying an additional 5,932 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Down 1.9 %

ETN stock traded down $5.78 during trading on Friday, reaching $296.68. The stock had a trading volume of 2,768,158 shares, compared to its average volume of 2,188,878. The company has a market capitalization of $118.61 billion, a P/E ratio of 35.03, a PEG ratio of 2.47 and a beta of 1.02. The firm has a fifty day moving average price of $310.21 and a 200 day moving average price of $308.61. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.27%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Insider Activity

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the sale, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the sale, the insider now directly owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on ETN shares. Wells Fargo & Company lowered their price objective on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Mizuho restated a “buy” rating and set a $355.00 target price (up previously from $340.00) on shares of Eaton in a report on Wednesday, May 1st. Argus lifted their target price on shares of Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. HSBC lifted their target price on shares of Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Finally, Raymond James assumed coverage on shares of Eaton in a report on Friday, June 28th. They set an “outperform” rating and a $375.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $326.53.

About Eaton

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.