Independent Solutions Wealth Management LLC Has $3.48 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Independent Solutions Wealth Management LLC cut its stake in shares of Eaton Co. plc (NYSE:ETN) by 5.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,505 shares of the industrial products company’s stock after selling 552 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Eaton were worth $3,482,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Eaton by 253.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after purchasing an additional 1,629,856 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after purchasing an additional 1,070,024 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Eaton by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after acquiring an additional 597,700 shares in the last quarter. Wulff Hansen & CO. increased its position in Eaton by 31,255.0% during the 2nd quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock worth $149,928,000 after purchasing an additional 476,639 shares in the last quarter. Finally, Electron Capital Partners LLC lifted its holdings in shares of Eaton by 8,348.9% during the second quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company’s stock worth $140,008,000 after purchasing an additional 441,239 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Raymond James reduced 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. Mizuho upped their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Barclays upped their price target on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, Morgan Stanley began coverage on Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective on the stock. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $367.83.

Eaton Price Performance

Shares of NYSE:ETN traded up $1.99 on Thursday, hitting $337.11. The company had a trading volume of 1,206,562 shares, compared to its average volume of 2,079,834. Eaton Co. plc has a 52-week low of $231.84 and a 52-week high of $379.99. The company has a market cap of $133.23 billion, a PE ratio of 35.86, a PEG ratio of 2.74 and a beta of 1.03. The business has a 50 day moving average of $356.37 and a 200 day moving average of $326.88. 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 for the quarter, topping the consensus estimate 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 the consensus estimate of $6.37 billion. During the same period in the prior year, the business posted $2.47 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were issued a $0.94 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.12%. Eaton’s dividend payout ratio is currently 40.00%.

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 61,569 shares of Eaton 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 transaction, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,981 shares of company stock valued at $27,660,117. Corporate insiders own 0.33% of the company’s stock.

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.