Founders Financial Alliance LLC Has $1.64 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Founders Financial Alliance LLC decreased its position in Eaton Co. plc (NYSE:ETN) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,239 shares of the industrial products company’s stock after selling 125 shares during the period. Founders Financial Alliance LLC’s holdings in Eaton were worth $1,643,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ETN. LifeSteps Financial Inc. bought a new stake in Eaton in the first quarter valued at about $25,000. Breakwater Investment Management grew its stake in shares of 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 period. Atwood & Palmer Inc. raised its holdings in shares of Eaton by 142.9% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after buying an additional 50 shares in the last quarter. Proffitt & Goodson Inc. bought a new position in shares of Eaton during the 2nd quarter worth approximately $29,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Eaton in the 1st quarter valued at $33,000. Institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 0.9 %

ETN opened at $331.44 on Tuesday. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $345.19. The company has a market cap of $132.51 billion, a price-to-earnings ratio of 39.13, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. The firm has a 50 day simple moving average of $301.25 and a 200 day simple moving average of $314.04.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. On average, sell-side analysts anticipate that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.94 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.13%. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Insider Activity at Eaton

In other news, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was 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 directly owns 71,262 shares in the company, valued at approximately $21,451,287.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dorothy C. Thompson bought 2,205 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were bought 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 in the company, valued at approximately $662,161.50. The disclosure for this purchase can be found here. Insiders have sold 52,511 shares of company stock worth $15,809,326 in the last ninety days. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Royal Bank of Canada reduced their target price 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. Morgan Stanley began coverage on shares of Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Jefferies Financial Group lifted 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. Barclays increased their price target on Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $337.41.

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.