Eaton Co. plc (NYSE:ETN) Shares Acquired by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. increased its stake in Eaton Co. plc (NYSE:ETN) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,587 shares of the industrial products company’s stock after acquiring an additional 990 shares during the period. Stratos Wealth Partners LTD.’s holdings in Eaton were worth $9,144,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital World Investors grew its holdings in Eaton by 323.8% during 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 in the last quarter. Jennison Associates LLC boosted its holdings in shares of 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 valued at $394,752,000 after buying an additional 1,219,790 shares in the last quarter. Swedbank AB acquired a new stake in Eaton during the 2nd quarter worth $225,974,000. Assenagon Asset Management S.A. lifted its position in Eaton by 1,604.4% in the second quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock valued at $211,201,000 after acquiring an additional 634,059 shares during the last quarter. Finally, Wulff Hansen & CO. boosted its stake in Eaton by 31,255.0% in the second quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock valued at $149,928,000 after acquiring an additional 476,639 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Stock Performance

Eaton stock opened at $348.18 on Friday. 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 fifty-two week low of $191.82 and a fifty-two week high of $349.74. The stock has a fifty day moving average of $314.01 and a two-hundred day moving average of $316.68. The company has a market capitalization of $139.20 billion, a price-to-earnings ratio of 41.11, a PEG ratio of 2.58 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, 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%. On average, analysts anticipate that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio is presently 44.39%.

Insider Transactions at Eaton

In related news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction dated Thursday, August 15th. The stock was 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Dorothy C. Thompson bought 2,205 shares of Eaton stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the acquisition, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,511 shares of company stock worth $15,809,326 over the last quarter. 0.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Mizuho upped their target price on Eaton from $355.00 to $365.00 and gave the company an “outperform” rating in a research report on Thursday. Jefferies Financial Group increased their price objective on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Wells Fargo & Company upped their price target on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Evercore ISI lowered their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Finally, Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average price target of $340.06.

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.