Eaton Co. plc (NYSE:ETN) Position Lessened by Wambolt & Associates LLC

Wambolt & Associates LLC decreased its holdings in Eaton Co. plc (NYSE:ETN) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,621 shares of the industrial products company’s stock after selling 144 shares during the quarter. Eaton accounts for approximately 1.2% of Wambolt & Associates LLC’s holdings, making the stock its 18th largest position. Wambolt & Associates LLC’s holdings in Eaton were worth $4,255,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Gryphon Financial Partners LLC lifted its holdings in shares of Eaton by 81.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock valued at $565,000 after buying an additional 1,053 shares during the period. Avantax Advisory Services Inc. grew its holdings in Eaton by 23.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 13,879 shares of the industrial products company’s stock worth $3,342,000 after acquiring an additional 2,631 shares during the period. Advisor OS LLC acquired a new stake in Eaton in the 4th quarter valued at about $233,000. Quotient Wealth Partners LLC bought a new position in shares of Eaton during the 4th quarter valued at about $316,000. Finally, Foundations Investment Advisors LLC bought a new position in shares of Eaton during the 4th quarter valued at about $407,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In other news, 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 transaction, the insider now owns 71,262 shares in the company, valued at approximately $21,451,287.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at $2,858,328. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Royal Bank of Canada cut their target price on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Evercore ISI reduced their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Jefferies Financial Group boosted their target price on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Morgan Stanley began coverage on Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target for the company. Finally, Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $335.18.

Eaton Stock Up 3.0 %

Shares of ETN stock opened at $297.00 on Thursday. The stock’s 50 day simple moving average is $301.10 and its 200 day simple moving average is $311.37. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.19. 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 company has a market capitalization of $118.74 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 2.19 and a beta of 1.01.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. The company 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%. As a group, research analysts predict that Eaton Co. plc will post 10.74 EPS for the current year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.27%. Eaton’s dividend payout ratio is presently 44.39%.

Eaton 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.