Eaton Co. plc (NYSE:ETN) Shares Purchased by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC grew its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 16,122 shares of the industrial products company’s stock after purchasing an additional 457 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Eaton were worth $5,344,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norden Group LLC bought a new position in shares of Eaton in the first quarter valued at $2,176,000. Griffin Asset Management Inc. purchased a new stake in shares of Eaton during the first quarter valued at $813,000. IAM Advisory LLC acquired a new position in shares of Eaton in the 2nd quarter valued at $599,000. Envestnet Portfolio Solutions Inc. increased its stake in Eaton by 19.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock worth $24,616,000 after purchasing an additional 12,689 shares in the last quarter. Finally, Interval Partners LP raised its holdings in Eaton by 82.7% during the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after buying an additional 68,693 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ETN. Morgan Stanley initiated coverage on shares of Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Mizuho boosted their target price on shares of Eaton from $355.00 to $365.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Barclays upped their price target on Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada decreased their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $340.06.

Insider Buying and Selling

In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction that occurred on 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction dated 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 owns 71,262 shares in the company, valued at approximately $21,451,287.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the sale, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,511 shares of company stock valued at $15,809,326. Insiders own 0.53% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock traded down $0.61 during trading on Wednesday, reaching $342.94. The company had a trading volume of 504,690 shares, compared to its average volume of 2,097,368. The firm’s 50 day simple moving average is $316.15 and its two-hundred day simple moving average is $316.93. Eaton Co. plc has a one year low of $193.77 and a one year 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. The company has a market capitalization of $137.11 billion, a PE ratio of 40.56, a PEG ratio of 2.58 and a beta of 1.02.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $6.35 billion. Sell-side analysts forecast that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.10%. Eaton’s payout ratio 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.