Asset Dedication LLC Has $2.08 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Asset Dedication LLC increased its position in shares of Eaton Co. plc (NYSE:ETN) by 2.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,620 shares of the industrial products company’s stock after buying an additional 146 shares during the quarter. Asset Dedication LLC’s holdings in Eaton were worth $2,076,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LifeSteps Financial Inc. bought a new stake in shares of Eaton during the first quarter worth about $25,000. Atwood & Palmer Inc. increased its holdings in Eaton by 142.9% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 50 shares in the last quarter. Clear Investment Research LLC purchased a new stake in shares of Eaton in the fourth quarter worth approximately $29,000. Proffitt & Goodson Inc. bought a new position in shares of Eaton in the second quarter valued at approximately $29,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Eaton during the first quarter valued at approximately $33,000. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on ETN shares. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday. Raymond James assumed coverage on shares of Eaton in a report on Friday, June 28th. They set an “outperform” rating and a $375.00 price target on the stock. Evercore ISI decreased their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Barclays boosted their target price on Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company decreased their price target on Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $335.76.

Eaton Trading Down 0.3 %

Shares of ETN opened at $284.97 on Friday. The firm has a market cap of $113.93 billion, a P/E ratio of 33.64, a price-to-earnings-growth ratio of 2.35 and a beta of 1.01. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $345.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The business has a 50-day moving average of $302.48 and a 200 day moving average of $311.18.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. As a group, research analysts forecast that Eaton Co. plc will post 10.74 EPS for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.32%. Eaton’s dividend payout ratio is currently 44.39%.

Insider Transactions at Eaton

In related news, Director Dorothy C. Thompson bought 2,205 shares of Eaton stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $300.30 per share, with a total value of $662,161.50. Following the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Michael Yelton sold 3,136 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now owns 3,914 shares in the company, valued at $1,186,411.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dorothy C. Thompson bought 2,205 shares of Eaton 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 disclosure for this purchase can be found here. Insiders sold 52,511 shares of company stock valued at $15,809,326 over the last three months. Company 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.