Net Worth Advisory Group Takes Position in Eaton Co. plc (NYSE:ETN)

Net Worth Advisory Group purchased a new stake in Eaton Co. plc (NYSE:ETN) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,161 shares of the industrial products company’s stock, valued at approximately $716,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. raised its stake in Eaton by 3.7% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 27,587 shares of the industrial products company’s stock worth $9,144,000 after acquiring an additional 990 shares in the last quarter. OmniStar Financial Group Inc. purchased a new position in shares of Eaton during the third quarter worth about $603,000. Aspiriant LLC increased its position in shares of Eaton by 25.9% during the third quarter. Aspiriant LLC now owns 1,022 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 210 shares in the last quarter. Aaron Wealth Advisors LLC lifted its holdings in shares of Eaton by 6.2% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 6,708 shares of the industrial products company’s stock valued at $2,223,000 after purchasing an additional 391 shares during the last quarter. Finally, Claro Advisors LLC lifted its holdings in shares of Eaton by 24.0% in the 3rd quarter. Claro Advisors LLC now owns 6,704 shares of the industrial products company’s stock valued at $2,222,000 after purchasing an additional 1,296 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Jefferies Financial Group lifted their price target on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Barclays lifted their target price on shares of Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada decreased their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Evercore ISI dropped their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Finally, Citigroup started coverage on shares of Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 target price for the company. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.06.

Insider Activity at Eaton

In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the business’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 completion of the sale, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Dorothy C. Thompson bought 2,205 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. This trade represents a 0.00 % decrease in their position. 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 Down 0.1 %

Eaton stock opened at $348.17 on Friday. The stock has a market cap of $139.20 billion, a price-to-earnings ratio of 41.11, a PEG ratio of 2.58 and a beta of 1.02. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. Eaton Co. plc has a 52 week low of $191.82 and a 52 week high of $349.74. The company’s 50-day moving average price is $314.01 and its two-hundred day moving average price is $316.67.

Eaton (NYSE:ETN) last released its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.12. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. On average, analysts expect that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Announces Dividend

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

Eaton Company 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.