Atwood & Palmer Inc. Has $57,000 Position in Eaton Co. plc (NYSE:ETN)

Atwood & Palmer Inc. raised its position in Eaton Co. plc (NYSE:ETN) by 102.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172 shares of the industrial products company’s stock after buying an additional 87 shares during the quarter. Atwood & Palmer Inc.’s holdings in Eaton were worth $57,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Capital World Investors increased its position in Eaton by 323.8% during the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after acquiring an additional 2,439,270 shares during the period. Jennison Associates LLC raised its position in shares of Eaton by 2,857.4% in the first quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock valued at $394,752,000 after buying an additional 1,219,790 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of Eaton by 2,006.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 964,728 shares of the industrial products company’s stock valued at $232,326,000 after buying an additional 918,936 shares during the period. Swedbank AB bought a new position in Eaton during the 2nd quarter worth $225,974,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Eaton by 1,604.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock valued at $211,201,000 after acquiring an additional 634,059 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Activity

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 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction on 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 sale, the insider now owns 9,900 shares in the company, valued at $2,858,328. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the transaction, the insider now directly owns 71,262 shares in the company, valued at approximately $21,451,287.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock worth $15,809,326 in the last three months. Company insiders own 0.53% of the company’s stock.

Eaton Trading Up 0.5 %

Shares of NYSE ETN opened at $334.69 on Tuesday. The stock has a market cap of $133.81 billion, a P/E ratio of 39.51, a price-to-earnings-growth ratio of 2.53 and a beta of 1.02. The firm has a 50 day moving average price of $303.32 and a two-hundred day moving average price of $314.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. Eaton Co. plc has a 52-week low of $191.82 and a 52-week high of $345.19.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping 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 company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. As a group, equities analysts forecast that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s dividend payout ratio is presently 44.39%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Morgan Stanley assumed coverage on Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Barclays boosted their target price on shares of Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Raymond James reduced their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Royal Bank of Canada lowered their price objective on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Evercore ISI reduced their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $339.47.

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.