Stone Point Wealth LLC Has $385,000 Stock Position in Eaton Co. plc (NYSE:ETN)

Stone Point Wealth LLC cut its position in shares of Eaton Co. plc (NYSE:ETN) by 7.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,161 shares of the industrial products company’s stock after selling 100 shares during the period. Stone Point Wealth LLC’s holdings in Eaton were worth $385,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ETN. Strategic Wealth Partners Ltd. raised its position in Eaton by 3.0% during the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after acquiring an additional 30 shares in the last quarter. Fairfield Financial Advisors LTD increased its holdings in shares of Eaton by 16.2% during the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 30 shares during the period. Legacy Capital Group California Inc. raised its holdings in Eaton by 1.2% in the 2nd quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock valued at $870,000 after acquiring an additional 32 shares in the last quarter. Well Done LLC raised its stake in shares of Eaton by 1.3% in the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock valued at $800,000 after purchasing an additional 33 shares in the last quarter. Finally, Austin Private Wealth LLC raised its stake in shares of Eaton by 3.7% in the 3rd quarter. Austin Private Wealth LLC now owns 929 shares of the industrial products company’s stock valued at $308,000 after buying an additional 33 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Eaton

In related news, insider Craig Arnold sold 61,569 shares of the 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 sale, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Eaton news, Director Karenann K. Terrell acquired 500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were acquired at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the acquisition, the director now directly owns 500 shares of the company’s stock, valued at approximately $149,485. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 118,080 shares of company stock valued at $39,375,088. 0.33% of the stock is currently owned by company insiders.

Eaton Stock Performance

Eaton stock opened at $360.58 on Friday. Eaton Co. plc has a 1 year low of $215.64 and a 1 year high of $366.08. The company’s 50-day moving average is $325.92 and its two-hundred 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. The company has a market cap of $142.50 billion, a PE ratio of 38.36, a PEG ratio of 2.66 and a beta of 1.01.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the firm earned $2.47 earnings per share. Equities analysts anticipate 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. Investors of record on Monday, November 4th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.04%. Eaton’s dividend payout ratio is presently 40.00%.

Analyst Ratings Changes

ETN has been the topic of a number of analyst reports. Jefferies Financial Group upped their target price on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Mizuho increased their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $374.00 price target on shares of Eaton in a research report on Friday, November 1st. Raymond James cut their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Finally, Evercore ISI dropped their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $343.28.

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.