Eaton Co. plc (NYSE:ETN) Stock Position Increased by Trueblood Wealth Management LLC

Trueblood Wealth Management LLC boosted its position in shares of Eaton Co. plc (NYSE:ETNFree Report) by 58.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,325 shares of the industrial products company’s stock after buying an additional 491 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Eaton were worth $415,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. BOKF NA increased its holdings in shares of Eaton by 8.9% in the second quarter. BOKF NA now owns 10,094 shares of the industrial products company’s stock valued at $3,165,000 after buying an additional 826 shares in the last quarter. Qsemble Capital Management LP acquired a new stake in shares of Eaton during the second quarter worth $5,546,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of Eaton by 40.4% during the second quarter. Hazlett Burt & Watson Inc. now owns 330 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 95 shares during the last quarter. Trifecta Capital Advisors LLC boosted its position in shares of Eaton by 17.6% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 15,075 shares of the industrial products company’s stock valued at $4,727,000 after purchasing an additional 2,261 shares during the period. Finally, Wellington Shields & Co. LLC increased its stake in Eaton by 49.1% in the 2nd quarter. Wellington Shields & Co. LLC now owns 2,050 shares of the industrial products company’s stock worth $643,000 after purchasing an additional 675 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Eaton news, Director Dorothy C. Thompson acquired 2,205 shares of Eaton stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $300.30 per share, with a total value of $662,161.50. Following the acquisition, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is owned by company insiders.

Eaton Price Performance

NYSE ETN opened at $297.00 on Thursday. The company has a market cap of $118.74 billion, a P/E ratio of 35.06, a P/E/G ratio of 2.19 and a beta of 1.01. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The company has a fifty day simple moving average of $301.10 and a 200 day simple moving average of $311.37.

Eaton (NYSE:ETNGet Free Report) last issued 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. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. On average, sell-side analysts predict that Eaton Co. plc will post 10.74 EPS for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.94 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.27%. Eaton’s payout ratio is 44.39%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ETN shares. Barclays lifted their target price on shares of Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Evercore ISI dropped their price target on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Morgan Stanley started coverage on Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Finally, 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 report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and an average price target of $335.18.

Read Our Latest Analysis on ETN

Eaton Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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