Eaton Co. plc (NYSE:ETN) Shares Bought by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its position in shares of Eaton Co. plc (NYSE:ETN) by 44.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,777 shares of the industrial products company’s stock after acquiring an additional 547 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Eaton were worth $542,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LifeSteps Financial Inc. purchased a new position in Eaton in the 1st quarter worth approximately $25,000. Breakwater Investment Management increased 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 valued at $26,000 after purchasing an additional 78 shares during the last quarter. Atwood & Palmer Inc. increased its holdings in Eaton by 142.9% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 50 shares during the last quarter. Clear Investment Research LLC acquired a new position in shares of Eaton in the fourth quarter worth $29,000. Finally, Proffitt & Goodson Inc. acquired a new position in shares of Eaton in the second quarter worth $29,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eaton

In other Eaton news, Director Dorothy C. Thompson bought 2,205 shares of Eaton stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the purchase, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Eaton 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 transaction of $96,721.20. Following the sale, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dorothy C. Thompson acquired 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is owned by insiders.

Eaton Price Performance

NYSE ETN opened at $329.69 on Tuesday. The company has a 50 day moving average price of $299.99 and a two-hundred day moving average price of $312.91. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. Eaton Co. plc has a 12-month low of $191.82 and a 12-month high of $345.19. The stock has a market capitalization of $131.81 billion, a PE ratio of 38.92, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01.

Eaton (NYSE:ETN) last released its earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. As a group, equities analysts predict that Eaton Co. plc will post 10.74 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s payout ratio is 44.39%.

Analyst Ratings Changes

ETN has been the subject of several recent analyst reports. Evercore ISI decreased their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Royal Bank of Canada dropped their price objective on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Raymond James dropped their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Jefferies Financial Group upped their target price on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Barclays upped their price target on shares of Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $337.41.

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.