Paladin Wealth LLC Buys New Position in Eaton Co. plc (NYSE:ETN)

Paladin Wealth LLC bought a new position in Eaton Co. plc (NYSE:ETN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,780 shares of the industrial products company’s stock, valued at approximately $590,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Capital World Investors grew its holdings in Eaton by 323.8% in 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 during the period. Jennison Associates LLC grew its stake in shares of Eaton by 2,857.4% in the 1st quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock valued at $394,752,000 after buying an additional 1,219,790 shares during the period. Swedbank AB bought a new stake in Eaton in the 2nd quarter valued at about $225,974,000. Assenagon Asset Management S.A. raised its stake in Eaton by 1,604.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock worth $211,201,000 after buying an additional 634,059 shares during the period. Finally, Wulff Hansen & CO. boosted its holdings in Eaton by 31,255.0% in the second quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock worth $149,928,000 after acquiring an additional 476,639 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ETN. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Wells Fargo & Company raised their price objective on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Citigroup assumed coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 target price for the company. 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 report on Wednesday, October 2nd. Finally, Raymond James decreased their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus price target of $339.47.

Eaton Stock Up 0.8 %

Eaton stock opened at $343.98 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $137.52 billion, a P/E ratio of 40.31, a P/E/G ratio of 2.58 and a beta of 1.02. The firm has a 50 day moving average price of $307.72 and a 200-day moving average price of $315.60. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.19.

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

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.94 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. Eaton’s payout ratio is 44.39%.

Insider Activity

In related news, 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 value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares in the company, valued at $2,858,328. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dorothy C. Thompson purchased 2,205 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the transaction, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The disclosure for this purchase can be found here. Insiders have sold a total of 52,511 shares of company stock valued at $15,809,326 over the last quarter. Company insiders own 0.53% of the company’s stock.

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.