Eaton Co. plc (NYSE:ETN) Shares Purchased by JFS Wealth Advisors LLC

JFS Wealth Advisors LLC increased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 75.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,910 shares of the industrial products company’s stock after acquiring an additional 1,252 shares during the quarter. JFS Wealth Advisors LLC’s holdings in Eaton were worth $965,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norden Group LLC acquired a new position in Eaton during the first quarter worth about $2,176,000. IAM Advisory LLC purchased a new stake in shares of Eaton in the 2nd quarter valued at approximately $599,000. Envestnet Portfolio Solutions Inc. grew its position in shares of Eaton by 19.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock valued at $24,616,000 after buying an additional 12,689 shares during the last quarter. Interval Partners LP grew its position in shares of Eaton by 82.7% in the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock valued at $47,571,000 after buying an additional 68,693 shares during the last quarter. Finally, Empowered Funds LLC grew its position in shares of Eaton by 302.4% in the 1st quarter. Empowered Funds LLC now owns 23,273 shares of the industrial products company’s stock valued at $7,277,000 after buying an additional 17,490 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ETN. Morgan Stanley began coverage on shares of Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 price target for the company. 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 research note on Monday, October 7th. Citigroup assumed coverage on shares of Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 target price for the company. Jefferies Financial Group increased their price target on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, Raymond James dropped their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $340.06.

Eaton Price Performance

ETN opened at $331.54 on Friday. The company’s 50 day simple moving average is $322.39 and its 200 day simple moving average is $318.15. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. Eaton Co. plc has a 1 year low of $198.68 and a 1 year high of $349.74. The stock has a market capitalization of $131.99 billion, a PE ratio of 36.47, a P/E/G ratio of 2.62 and a beta of 1.02.

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, topping the consensus estimate of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.35 billion. As a group, sell-side analysts expect that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders 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 1.13%. Eaton’s dividend payout ratio (DPR) is 41.36%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction that occurred on Monday, August 12th. The shares were 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction that occurred on Monday, August 12th. The shares were 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction that occurred on 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 directly owns 71,262 shares in the company, valued at approximately $21,451,287.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,511 shares of company stock valued at $15,809,326 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

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.