Northwestern Mutual Wealth Management Co. Buys 3,361 Shares of Eaton Co. plc (NYSE:ETN)

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 5.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,374 shares of the industrial products company’s stock after acquiring an additional 3,361 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Eaton were worth $19,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. NewEdge Advisors LLC grew its stake in shares of Eaton by 22.7% during the second quarter. NewEdge Advisors LLC now owns 93,025 shares of the industrial products company’s stock worth $29,168,000 after acquiring an additional 17,224 shares during the last quarter. Ascension Asset Management LLC purchased a new stake in Eaton during the 2nd quarter valued at about $776,000. Silver Lake Advisory LLC lifted its holdings in shares of Eaton by 6.1% in the 2nd quarter. Silver Lake Advisory LLC now owns 9,632 shares of the industrial products company’s stock valued at $3,020,000 after buying an additional 550 shares during the period. Magnolia Capital Advisors LLC acquired a new position in shares of Eaton in the 2nd quarter valued at about $15,965,000. Finally, Aviso Wealth Management raised its holdings in Eaton by 13.4% in the 2nd quarter. Aviso Wealth Management now owns 785 shares of the industrial products company’s stock worth $246,000 after purchasing an additional 93 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ETN shares. Raymond James dropped their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Wells Fargo & Company decreased their price target on Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Morgan Stanley assumed coverage on Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 price target on the stock. Citigroup assumed coverage on Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective on the stock. Finally, Barclays increased their price objective on Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $337.41.

Eaton Price Performance

Shares of NYSE:ETN opened at $331.44 on Tuesday. 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 fifty-two week low of $191.82 and a fifty-two week high of $345.19. The firm has a 50-day simple moving average of $301.25 and a 200 day simple moving average of $314.04. The company has a market cap of $132.51 billion, a PE ratio of 39.13, a P/E/G ratio of 2.53 and a beta of 1.01.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (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 business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. On average, sell-side analysts anticipate that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Dorothy C. Thompson bought 2,205 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the transaction, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the transaction, the insider now directly owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dorothy C. Thompson purchased 2,205 shares of Eaton stock in a transaction that occurred 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 transaction, the director now owns 2,205 shares in the company, valued at $662,161.50. The disclosure for this purchase can be found here. Insiders sold a total of 52,511 shares of company stock worth $15,809,326 in the last quarter. 0.53% 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.