Maxwell Wealth Strategies Inc. Has $7.45 Million Position in Eaton Co. plc (NYSE:ETN)

Maxwell Wealth Strategies Inc. grew its position in Eaton Co. plc (NYSE:ETN) by 51.9% during the third quarter, HoldingsChannel reports. The firm owned 22,088 shares of the industrial products company’s stock after buying an additional 7,545 shares during the period. Eaton comprises approximately 3.2% of Maxwell Wealth Strategies Inc.’s portfolio, making the stock its 4th largest holding. Maxwell Wealth Strategies Inc.’s holdings in Eaton were worth $7,454,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Legal & General Group Plc grew its holdings in Eaton by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock worth $1,005,317,000 after acquiring an additional 18,077 shares during the period. Capital World Investors grew its stake in Eaton by 323.8% during the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after purchasing an additional 2,439,270 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Eaton by 2.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,422,189 shares of the industrial products company’s stock worth $471,370,000 after purchasing an additional 40,078 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Eaton by 15.5% in the first quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock valued at $412,108,000 after buying an additional 176,571 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after buying an additional 1,070,024 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on ETN shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $374.00 price objective on shares of Eaton in a research note on Friday, November 1st. Wells Fargo & Company upped their price objective on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Citigroup assumed coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price objective on the stock. Mizuho increased their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Morgan Stanley began coverage on Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective for the company. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $357.83.

Eaton Trading Down 0.8 %

NYSE:ETN opened at $358.99 on Friday. Eaton Co. plc has a 52 week low of $224.52 and a 52 week high of $373.49. The firm has a 50-day moving average price of $335.82 and a two-hundred day moving average price of $321.35. The firm has a market cap of $141.87 billion, a price-to-earnings ratio of 38.19, a price-to-earnings-growth ratio of 2.96 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Eaton’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company posted $2.47 earnings per share. On average, equities analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.05%. Eaton’s payout ratio is currently 40.00%.

Insider Buying and Selling

In other news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the transaction, the director now owns 51,422 shares in the company, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,705 shares of company stock worth $24,516,346. Insiders own 0.53% of the company’s stock.

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.