Aspiriant LLC Grows Position in Eaton Co. plc (NYSE:ETN)

Aspiriant LLC grew its position in shares of Eaton Co. plc (NYSE:ETN) by 25.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,022 shares of the industrial products company’s stock after purchasing an additional 210 shares during the quarter. Aspiriant LLC’s holdings in Eaton were worth $339,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ETN. Aaron Wealth Advisors LLC raised its position in shares of Eaton by 6.2% in the third quarter. Aaron Wealth Advisors LLC now owns 6,708 shares of the industrial products company’s stock worth $2,223,000 after acquiring an additional 391 shares during the period. Claro Advisors LLC raised its holdings in Eaton by 24.0% in the 3rd quarter. Claro Advisors LLC now owns 6,704 shares of the industrial products company’s stock worth $2,222,000 after purchasing an additional 1,296 shares during the period. V Square Quantitative Management LLC boosted its position in Eaton by 1.2% during the third quarter. V Square Quantitative Management LLC now owns 6,540 shares of the industrial products company’s stock worth $2,168,000 after purchasing an additional 75 shares in the last quarter. Sax Wealth Advisors LLC grew its holdings in Eaton by 19.6% in the third quarter. Sax Wealth Advisors LLC now owns 2,045 shares of the industrial products company’s stock valued at $678,000 after purchasing an additional 335 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Eaton by 12.2% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 87,001 shares of the industrial products company’s stock valued at $28,836,000 after buying an additional 9,428 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Raymond James dropped their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Jefferies Financial Group boosted their target price on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Barclays raised their price target on shares of Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Evercore ISI cut their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Finally, Morgan Stanley initiated coverage on Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $340.06.

Insiders Place Their Bets

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Eaton news, Director Karenann K. Terrell purchased 500 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were bought at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the purchase, the director now directly owns 500 shares of the company’s stock, valued at approximately $149,485. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock valued at $15,809,326 over the last 90 days. 0.53% of the stock is owned by company insiders.

Eaton Price Performance

Eaton stock opened at $348.17 on Friday. 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 stock has a market cap of $139.20 billion, a P/E ratio of 41.11, a PEG ratio of 2.58 and a beta of 1.02. The company has a 50-day moving average price of $314.01 and a 200 day moving average price of $316.67. Eaton Co. plc has a 12-month low of $191.82 and a 12-month high of $349.74.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 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 analyst estimates of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. Sell-side analysts anticipate that Eaton Co. plc will post 10.75 earnings per share 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 $0.94 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. Eaton’s payout ratio is currently 44.39%.

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.