Trueblood Wealth Management LLC Purchases 199 Shares of Eaton Co. plc (NYSE:ETN)

Trueblood Wealth Management LLC raised its position in Eaton Co. plc (NYSE:ETN) by 15.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,524 shares of the industrial products company’s stock after purchasing an additional 199 shares during the period. Trueblood Wealth Management LLC’s holdings in Eaton were worth $505,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Cullinan Associates Inc. grew its holdings in shares of Eaton by 12.5% in the 3rd quarter. Cullinan Associates Inc. now owns 4,272 shares of the industrial products company’s stock valued at $1,478,000 after buying an additional 473 shares during the period. Ballentine Partners LLC lifted its holdings in Eaton by 91.8% during the third quarter. Ballentine Partners LLC now owns 8,466 shares of the industrial products company’s stock worth $2,806,000 after acquiring an additional 4,051 shares in the last quarter. Busey Bank grew its stake in Eaton by 0.6% in the third quarter. Busey Bank now owns 11,767 shares of the industrial products company’s stock valued at $3,900,000 after acquiring an additional 70 shares during the period. Silver Oak Securities Incorporated increased its holdings in shares of Eaton by 30.8% in the third quarter. Silver Oak Securities Incorporated now owns 1,360 shares of the industrial products company’s stock worth $451,000 after acquiring an additional 320 shares in the last quarter. Finally, West Michigan Advisors LLC raised its position in shares of Eaton by 0.5% during the third quarter. West Michigan Advisors LLC now owns 12,219 shares of the industrial products company’s stock worth $4,050,000 after purchasing an additional 66 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ETN. Wells Fargo & Company increased their target price on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Royal Bank of Canada decreased their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Raymond James decreased their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Finally, Citigroup started coverage on shares of Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and an average price target of $340.06.

Eaton Trading Down 0.2 %

Shares of Eaton stock opened at $344.49 on Friday. Eaton Co. plc has a 1 year low of $193.77 and a 1 year high of $349.74. The company has a market capitalization of $137.73 billion, a price-to-earnings ratio of 40.67, a P/E/G ratio of 2.58 and a beta of 1.02. The business has a fifty day simple moving average of $317.94 and a two-hundred day simple moving average of $317.32. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07.

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

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s payout ratio is 44.39%.

Insider Transactions at Eaton

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost 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 in the company, valued at $662,161.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Dorothy C. Thompson purchased 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 directly 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 available through the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 71,262 shares in the company, valued at $21,451,287.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is currently owned by corporate insiders.

About Eaton

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.