XML Financial LLC Sells 64 Shares of Eaton Co. plc (NYSE:ETN)

XML Financial LLC reduced its position in shares of Eaton Co. plc (NYSE:ETN) by 5.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,097 shares of the industrial products company’s stock after selling 64 shares during the period. XML Financial LLC’s holdings in Eaton were worth $344,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ETN. Tennessee Valley Asset Management Partners bought a new stake in shares of Eaton during the 4th quarter worth $25,000. Beaumont Financial Advisors LLC raised its stake in Eaton by 8.6% during the 4th quarter. Beaumont Financial Advisors LLC now owns 1,254 shares of the industrial products company’s stock valued at $302,000 after purchasing an additional 99 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in Eaton by 5.6% during the 4th quarter. J.W. Cole Advisors Inc. now owns 1,741 shares of the industrial products company’s stock valued at $419,000 after purchasing an additional 93 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its stake in Eaton by 22.3% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 6,976 shares of the industrial products company’s stock valued at $1,680,000 after purchasing an additional 1,273 shares during the last quarter. Finally, abrdn plc raised its stake in Eaton by 47.6% during the 4th quarter. abrdn plc now owns 173,886 shares of the industrial products company’s stock valued at $41,875,000 after purchasing an additional 56,065 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ETN shares. Jefferies Financial Group upped their target price on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Mizuho reiterated a “buy” rating and set a $355.00 target price (up from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. Wells Fargo & Company cut their target price 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. HSBC increased their price objective on shares of Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Finally, Barclays increased their price objective on shares of Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $328.00.

Eaton Price Performance

Shares of ETN traded up $3.49 during trading hours on Wednesday, hitting $299.73. The stock had a trading volume of 1,400,562 shares, compared to its average volume of 2,175,605. The company’s fifty day moving average is $308.69 and its two-hundred day moving average is $309.39. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.05. Eaton Co. plc has a 52 week low of $191.82 and a 52 week high of $345.19. The stock has a market capitalization of $119.83 billion, a price-to-earnings ratio of 35.39, a P/E/G ratio of 2.47 and a beta of 1.02.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Monday, August 5th. Eaton’s payout ratio is 44.39%.

Insider Transactions at Eaton

In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the 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 owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the 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 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 can be accessed through this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction dated Thursday, August 15th. The stock was 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 in the company, valued at approximately $21,451,287.24. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

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.