Buckley Wealth Management LLC Raises Stock Holdings in Eaton Co. plc (NYSE:ETN)

Buckley Wealth Management LLC boosted its stake in shares of Eaton Co. plc (NYSE:ETN) by 1.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 4,020 shares of the industrial products company’s stock after acquiring an additional 45 shares during the period. Buckley Wealth Management LLC’s holdings in Eaton were worth $1,332,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ETN. Breakwater Investment Management increased its stake in Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after buying an additional 78 shares in the last quarter. Proffitt & Goodson Inc. acquired a new position in Eaton in the 2nd quarter valued at $29,000. Redmont Wealth Advisors LLC purchased a new position in Eaton in the 1st quarter valued at $33,000. LGT Financial Advisors LLC acquired a new stake in Eaton during the 2nd quarter worth $33,000. Finally, West Financial Advisors LLC acquired a new stake in shares of Eaton in the third quarter valued at about $35,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In other news, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the sale, the insider now owns 71,262 shares in the company, valued at approximately $21,451,287.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction dated 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 sale, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. This represents 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 link. Also, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the transaction, the insider now owns 71,262 shares in the company, valued at $21,451,287.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,511 shares of company stock worth $15,809,326 over the last 90 days. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Down 0.1 %

Shares of Eaton stock traded down $0.31 on Friday, reaching $348.18. 1,173,441 shares of the company were exchanged, compared to its average volume of 2,114,890. The stock’s 50 day moving average price is $314.01 and its 200-day moving average price is $316.68. The company has a market cap of $139.20 billion, a P/E ratio of 41.11, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $349.74. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07.

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

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a dividend of $0.94 per share. The ex-dividend date was Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.08%. Eaton’s dividend payout ratio is currently 44.39%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ETN shares. Mizuho upped their price objective on shares of Eaton from $355.00 to $365.00 and gave the company an “outperform” rating in a research note on Thursday. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Jefferies Financial Group upped their target price on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Barclays lifted their price target on Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Citigroup initiated coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price objective for the company. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $340.06.

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.