Walkner Condon Financial Advisors LLC Purchases New Position in Eaton Co. plc (NYSE:ETN)

Walkner Condon Financial Advisors LLC bought a new position in Eaton Co. plc (NYSE:ETN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 728 shares of the industrial products company’s stock, valued at approximately $241,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Breakwater Investment Management boosted its holdings in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 78 shares during the period. Proffitt & Goodson Inc. acquired a new stake in Eaton during the 2nd quarter valued at $29,000. LGT Financial Advisors LLC purchased a new stake in Eaton during the 2nd quarter worth $33,000. West Financial Advisors LLC acquired a new position in Eaton in the 3rd quarter worth $35,000. Finally, DiNuzzo Private Wealth Inc. purchased a new position in Eaton in the 2nd quarter valued at about $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

ETN has been the topic of a number of analyst reports. Raymond James dropped their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Wells Fargo & Company upped their target price on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Morgan Stanley started coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $374.00 price target on shares of Eaton in a report on Friday, November 1st. Finally, Citigroup assumed coverage on shares of Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 target price for the company. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $343.28.

Eaton Stock Performance

ETN opened at $360.58 on Friday. Eaton Co. plc has a twelve month low of $215.64 and a twelve month high of $366.08. The stock has a market cap of $142.50 billion, a PE ratio of 38.36, a price-to-earnings-growth ratio of 2.66 and a beta of 1.01. The business’s 50 day moving average is $325.92 and its 200-day moving average is $319.05. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) 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 firm 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 company earned $2.47 earnings per share. Eaton’s revenue was up 7.9% compared to the same quarter last year. On average, analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be given a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.04%. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Insider Transactions at Eaton

In other news, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton 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 transaction, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction 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 sale, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 118,080 shares of company stock valued at $39,375,088 in the last three months. 0.33% of the stock is currently owned by corporate 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.