CreativeOne Wealth LLC Has $942,000 Stock Position in Eaton Co. plc (NYSE:ETN)

CreativeOne Wealth LLC raised its stake in Eaton Co. plc (NYSE:ETN) by 114.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,843 shares of the industrial products company’s stock after acquiring an additional 1,515 shares during the quarter. CreativeOne Wealth LLC’s holdings in Eaton were worth $942,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. LRI Investments LLC acquired a new position in Eaton during the 1st quarter worth $66,000. EverSource Wealth Advisors LLC lifted its stake in shares of Eaton by 14.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,230 shares of the industrial products company’s stock valued at $392,000 after acquiring an additional 158 shares during the period. Old Port Advisors bought a new position in Eaton in the first quarter valued at about $226,000. Park Place Capital Corp increased its position in Eaton by 4.8% in the second quarter. Park Place Capital Corp now owns 5,020 shares of the industrial products company’s stock worth $1,574,000 after purchasing an additional 232 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Eaton by 20.2% during the 2nd quarter. GAMMA Investing LLC now owns 7,438 shares of the industrial products company’s stock worth $2,332,000 after purchasing an additional 1,251 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Up 0.9 %

Eaton stock opened at $375.43 on Friday. Eaton Co. plc has a twelve month low of $224.61 and a twelve month high of $379.99. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average of $348.37 and a 200-day moving average of $324.54. The stock has a market capitalization of $148.37 billion, a PE ratio of 39.94, a price-to-earnings-growth ratio of 2.82 and a beta of 1.01.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.47 EPS. On average, equities research analysts anticipate that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is currently 40.00%.

Analysts Set New Price Targets

Several brokerages have recently commented on ETN. Wells Fargo & Company lifted their price target on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Citigroup began coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 target price for the company. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Raymond James dropped their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Finally, Barclays reduced their target price on Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $357.83.

Insider Transactions at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the transaction, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. This represents a 4.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the transaction, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold 66,981 shares of company stock valued at $24,100,317 in the last ninety days. 0.53% of the stock is currently owned by corporate insiders.

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.