Aaron Wealth Advisors LLC Increases Holdings in Eaton Co. plc (NYSE:ETN)

Aaron Wealth Advisors LLC increased its holdings in Eaton Co. plc (NYSE:ETN) by 6.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,708 shares of the industrial products company’s stock after buying an additional 391 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Eaton were worth $2,223,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Breakwater Investment Management grew its stake in shares of Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 78 shares during the period. Proffitt & Goodson Inc. bought a new stake in Eaton in the 2nd quarter valued at $29,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Eaton in the first quarter worth about $33,000. LGT Financial Advisors LLC purchased a new stake in shares of Eaton during the 2nd quarter worth approximately $33,000. Finally, West Financial Advisors LLC bought a new position in shares of Eaton during the 3rd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other Eaton news, Director Dorothy C. Thompson acquired 2,205 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, with a total value of $662,161.50. Following the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other Eaton news, insider Michael Yelton sold 3,136 shares of the company’s 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 owns 3,914 shares in the company, valued at approximately $1,186,411.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dorothy C. Thompson purchased 2,205 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is owned by insiders.

Eaton Stock Performance

NYSE:ETN traded down $2.39 during trading hours on Friday, hitting $346.10. 236,441 shares of the company were exchanged, compared to its average volume of 2,110,252. The company’s 50 day moving average price is $312.88 and its 200-day moving average price is $316.41. The stock has a market capitalization of $138.37 billion, a price-to-earnings ratio of 40.86, a PEG ratio of 2.58 and a beta of 1.02. Eaton Co. plc has a 52-week low of $191.82 and a 52-week high of $349.74. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07.

Eaton (NYSE:ETN) last released its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.12. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. As a group, research analysts forecast that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a $0.94 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. Eaton’s dividend payout ratio is currently 44.39%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ETN shares. Citigroup started coverage on shares of Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 price target on the stock. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Royal Bank of Canada dropped their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Evercore ISI reduced their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Finally, Raymond James lowered their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $340.06.

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.