264 Shares in Eaton Co. plc (NYSE:ETN) Bought by Legacy Investment Solutions LLC

Legacy Investment Solutions LLC bought a new stake in Eaton Co. plc (NYSE:ETN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 264 shares of the industrial products company’s stock, valued at approximately $88,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Diversify Advisory Services LLC grew its holdings in Eaton by 14.0% during the second quarter. Diversify Advisory Services LLC now owns 1,356 shares of the industrial products company’s stock valued at $432,000 after purchasing an additional 167 shares during the period. Sapient Capital LLC boosted its holdings in shares of Eaton by 27.7% in the second quarter. Sapient Capital LLC now owns 1,080 shares of the industrial products company’s stock valued at $339,000 after buying an additional 234 shares during the period. RFG Advisory LLC increased its position in shares of Eaton by 8.5% during the second quarter. RFG Advisory LLC now owns 4,594 shares of the industrial products company’s stock worth $1,440,000 after acquiring an additional 361 shares in the last quarter. Dynamic Advisor Solutions LLC raised its holdings in shares of Eaton by 2.5% during the second quarter. Dynamic Advisor Solutions LLC now owns 11,650 shares of the industrial products company’s stock worth $3,653,000 after acquiring an additional 288 shares during the period. Finally, MorganRosel Wealth Management LLC boosted its stake in Eaton by 2.3% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 3,791 shares of the industrial products company’s stock worth $1,189,000 after purchasing an additional 85 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ETN. Mizuho boosted their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Wells Fargo & Company boosted their target price on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Jefferies Financial Group raised their price target on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday. Raymond James cut their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Finally, Barclays raised their target price on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average target price of $362.72.

Insider Buying and Selling

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares in the company, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,981 shares of company stock valued at $24,100,317. Company insiders own 0.53% of the company’s stock.

Eaton Trading Up 0.0 %

Eaton stock opened at $371.22 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The stock has a 50-day simple moving average of $352.74 and a 200 day simple moving average of $325.88. The stock has a market capitalization of $146.71 billion, a P/E ratio of 39.49, a PEG ratio of 2.86 and a beta of 1.03. Eaton Co. plc has a 52 week low of $226.79 and a 52 week high of $379.99.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period in the previous year, the firm earned $2.47 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. Analysts expect that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio is presently 40.00%.

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.