614 Shares in Eaton Co. plc (NYSE:ETN) Bought by PBMares Wealth Management LLC

PBMares Wealth Management LLC acquired a new stake in Eaton Co. plc (NYSE:ETN) in the third quarter, HoldingsChannel reports. The institutional investor acquired 614 shares of the industrial products company’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ETN. Legal & General Group Plc lifted its stake in Eaton by 0.6% during the second quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock worth $1,005,317,000 after purchasing an additional 18,077 shares during the period. Capital World Investors lifted its position in shares of Eaton by 323.8% during the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after purchasing an additional 2,439,270 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Eaton by 15.5% during the first quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock valued at $412,108,000 after purchasing an additional 176,571 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Eaton by 2,857.4% in the first quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock valued at $394,752,000 after purchasing an additional 1,219,790 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after purchasing an additional 1,070,024 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ETN has been the topic of a number of recent research reports. Raymond James lowered their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Wells Fargo & Company raised their price target on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Jefferies Financial Group boosted their price objective on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Royal Bank of Canada reduced their target price on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Morgan Stanley started coverage on shares of Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 price target for the company. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $340.06.

Insider Buying and Selling

In related news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction on 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 directly owns 9,900 shares in the company, valued at approximately $2,858,328. 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 accessible through this hyperlink. In related news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton 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 in the company, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Karenann K. Terrell acquired 500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was acquired at an average cost of $298.97 per share, with a total value of $149,485.00. Following the completion of the transaction, the director now owns 500 shares of the company’s stock, valued at approximately $149,485. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 52,511 shares of company stock worth $15,809,326. 0.53% of the stock is owned by insiders.

Eaton Trading Down 0.3 %

NYSE:ETN traded down $0.88 on Tuesday, reaching $344.63. The company’s stock had a trading volume of 606,909 shares, compared to its average volume of 2,090,276. 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 firm has a market cap of $137.20 billion, a PE ratio of 38.02, a PEG ratio of 2.62 and a beta of 1.02. The business’s 50-day moving average price is $319.86 and its two-hundred day moving average price is $317.69. Eaton Co. plc has a 1-year low of $196.12 and a 1-year high of $349.74.

Eaton (NYSE:ETN) last released 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 firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. Equities research analysts anticipate that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio is presently 41.36%.

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.