Creative Planning Purchases 4,705 Shares of Eaton Co. plc (NYSE:ETN)

Creative Planning lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,067 shares of the industrial products company’s stock after buying an additional 4,705 shares during the quarter. Creative Planning’s holdings in Eaton were worth $60,013,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. RFG Advisory LLC boosted its position in shares of Eaton by 5.3% in the 1st quarter. RFG Advisory LLC now owns 4,233 shares of the industrial products company’s stock worth $1,323,000 after purchasing an additional 213 shares during the last quarter. Rockland Trust Co. bought a new position in Eaton during the first quarter worth about $216,000. &PARTNERS grew its position in shares of Eaton by 108.8% during the 1st quarter. &PARTNERS now owns 2,359 shares of the industrial products company’s stock worth $738,000 after buying an additional 1,229 shares during the period. International Assets Investment Management LLC increased its stake in shares of Eaton by 139.5% in the 1st quarter. International Assets Investment Management LLC now owns 3,145 shares of the industrial products company’s stock valued at $981,000 after acquiring an additional 1,832 shares during the last quarter. Finally, Salem Investment Counselors Inc. raised its position in shares of Eaton by 2.8% in the 1st quarter. Salem Investment Counselors Inc. now owns 7,950 shares of the industrial products company’s stock valued at $2,486,000 after acquiring an additional 219 shares during the period. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ETN has been the subject of several recent 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. Barclays raised their price objective on Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Citigroup assumed coverage on Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 target price for the company. Royal Bank of Canada lowered their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Mizuho lifted their price objective on Eaton from $355.00 to $365.00 and gave the company an “outperform” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $340.06.

Eaton Stock Down 0.1 %

Shares of ETN stock opened at $348.18 on Friday. The firm’s fifty day moving average price is $314.01 and its two-hundred day moving average price is $316.68. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $349.74. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $139.20 billion, a P/E ratio of 41.11, a PEG ratio of 2.58 and a beta of 1.02.

Eaton (NYSE:ETN) last released its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.12. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. On average, equities analysts predict that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. Eaton’s payout ratio is 44.39%.

Insiders Place Their Bets

In other news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. 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, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,511 shares of company stock valued at $15,809,326. 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.