Eaton Co. plc (NYSE:ETN) Stake Boosted by Venturi Wealth Management LLC

Venturi Wealth Management LLC grew its position in Eaton Co. plc (NYSE:ETN) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,549 shares of the industrial products company’s stock after buying an additional 32 shares during the quarter. Venturi Wealth Management LLC’s holdings in Eaton were worth $513,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. IAM Advisory LLC acquired a new stake in Eaton during the 2nd quarter valued at $599,000. Interval Partners LP lifted its stake in Eaton by 82.7% in the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after acquiring an additional 68,693 shares in the last quarter. Scientech Research LLC grew its stake in Eaton by 285.5% during the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock valued at $1,801,000 after acquiring an additional 4,254 shares in the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of Eaton in the first quarter worth approximately $1,758,000. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in shares of Eaton by 25.9% during the second quarter. B. Riley Wealth Advisors Inc. now owns 27,609 shares of the industrial products company’s stock worth $8,657,000 after purchasing an additional 5,676 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Trading Down 0.8 %

ETN stock opened at $369.05 on Wednesday. Eaton Co. plc has a fifty-two week low of $220.24 and a fifty-two week high of $373.49. The stock has a market capitalization of $145.85 billion, a price-to-earnings ratio of 39.26, a P/E/G ratio of 2.94 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The business has a fifty day moving average price of $329.60 and a 200 day moving average price of $320.18.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the company posted $2.47 EPS. Eaton’s revenue was up 7.9% on a year-over-year basis. Analysts expect that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be issued a $0.94 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.02%. Eaton’s dividend payout ratio is currently 40.00%.

Wall Street Analyst Weigh In

ETN has been the topic of a number of recent research reports. Citigroup started coverage on Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 target price on the stock. Mizuho raised their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company upped their target price on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Morgan Stanley started coverage on Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 target price for the company. Finally, Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $343.28.

Insider Buying and Selling at Eaton

In related news, Director Karenann K. Terrell purchased 500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were bought at an average price of $298.97 per share, with a total value of $149,485.00. Following the purchase, the director now directly owns 500 shares in the company, valued at $149,485. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other Eaton news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the transaction, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Karenann K. Terrell purchased 500 shares of the stock in a transaction on Wednesday, August 21st. The stock was acquired at an average price of $298.97 per share, with a total value of $149,485.00. Following the completion of the acquisition, the director now directly 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 ninety days, insiders have sold 117,745 shares of company stock valued at $39,278,367. 0.53% of the stock is currently owned by insiders.

Eaton Company 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.