3,220 Shares in Eaton Co. plc (NYSE:ETN) Acquired by Dynasty Wealth Management LLC

Dynasty Wealth Management LLC acquired a new stake in shares of Eaton Co. plc (NYSE:ETN) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 3,220 shares of the industrial products company’s stock, valued at approximately $1,007,000.

A number of other large investors have also added to or reduced their stakes in ETN. Norges Bank purchased a new position in shares of Eaton during the fourth quarter valued at approximately $1,087,983,000. Capital World Investors lifted its holdings in shares of Eaton by 323.8% in the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after acquiring an additional 2,439,270 shares during the last quarter. Jennison Associates LLC increased its stake in Eaton by 2,857.4% in the 1st quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock worth $394,752,000 after buying an additional 1,219,790 shares during the period. Balyasny Asset Management L.P. increased its stake in Eaton by 2,006.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 964,728 shares of the industrial products company’s stock worth $232,326,000 after buying an additional 918,936 shares during the period. Finally, Artisan Partners Limited Partnership lifted its stake in shares of Eaton by 207.5% during the 4th quarter. Artisan Partners Limited Partnership now owns 970,426 shares of the industrial products company’s stock worth $233,698,000 after purchasing an additional 654,855 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In other news, insider Peter Denk sold 2,416 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the sale, the insider now owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by company insiders.

Analysts Set New Price Targets

ETN has been the subject of several recent research reports. Argus lifted their target price on shares of Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Wolfe Research restated an “underperform” rating and issued a $312.00 price objective on shares of Eaton in a report on Monday, April 8th. Raymond James initiated coverage on shares of Eaton in a research note on Friday, June 28th. They set an “outperform” rating and a $375.00 price target on the stock. Jefferies Financial Group increased their price target on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, Barclays lifted their price target on Eaton from $316.00 to $318.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $323.06.

Eaton Trading Up 5.8 %

Shares of NYSE ETN traded up $16.70 during trading on Wednesday, hitting $303.94. 3,023,551 shares of the company traded hands, compared to its average volume of 2,094,215. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19. The company has a 50-day moving average price of $320.58 and a 200-day moving average price of $304.83. The firm has a market capitalization of $121.52 billion, a P/E ratio of 36.20, a P/E/G ratio of 2.48 and a beta of 1.02. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same period in the previous year, the company earned $1.88 earnings per share. Eaton’s quarterly revenue was up 8.4% on a year-over-year basis. On average, equities analysts predict that Eaton Co. plc will post 10.56 EPS for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be issued a dividend of $0.94 per share. The ex-dividend date is Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.24%. Eaton’s dividend payout ratio (DPR) 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.