Austin Private Wealth LLC Raises Stock Holdings in Eaton Co. plc (NYSE:ETN)

Austin Private Wealth LLC grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 3.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 929 shares of the industrial products company’s stock after acquiring an additional 33 shares during the quarter. Austin Private Wealth LLC’s holdings in Eaton were worth $308,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ETN. Breakwater Investment Management lifted its holdings in Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 78 shares during the period. Proffitt & Goodson Inc. bought a new position in shares of Eaton in the 2nd quarter worth approximately $29,000. LGT Financial Advisors LLC purchased a new position in shares of Eaton in the second quarter worth approximately $33,000. West Financial Advisors LLC bought a new stake in Eaton during the third quarter valued at approximately $35,000. Finally, DT Investment Partners LLC bought a new position in Eaton in the third quarter worth approximately $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

ETN has been the topic of several recent research reports. Mizuho raised their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday. Sanford C. Bernstein assumed coverage on shares of Eaton in a research report on Tuesday. They issued an “outperform” rating and a $382.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and set a $374.00 price objective on shares of Eaton in a research report on Friday. Barclays dropped their target price on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Jefferies Financial Group raised their price target on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $343.28.

Insider Buying and Selling

In other news, Director Karenann K. Terrell purchased 500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were purchased at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at approximately $149,485. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Karenann K. Terrell purchased 500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were acquired at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the acquisition, the director now owns 500 shares of the company’s stock, valued at $149,485. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,511 shares of company stock valued at $17,150,526 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Eaton Trading Up 1.4 %

ETN traded up $4.52 during trading hours on Tuesday, reaching $335.65. 251,288 shares of the company’s stock traded hands, compared to its average volume of 2,097,524. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average price of $323.78 and a 200 day moving average price of $318.52. Eaton Co. plc has a 52-week low of $211.99 and a 52-week high of $349.74. The firm has a market capitalization of $132.65 billion, a PE ratio of 35.84, a PEG ratio of 2.55 and a beta of 1.01.

Eaton (NYSE:ETN) last posted 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. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the prior year, the business posted $2.47 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, sell-side analysts predict that Eaton Co. plc will post 10.78 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be issued a $0.94 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.12%. Eaton’s payout ratio is 40.00%.

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.