GPS Wealth Strategies Group LLC Buys 131 Shares of Eaton Co. plc (NYSE:ETN)

GPS Wealth Strategies Group LLC grew its position in shares of Eaton Co. plc (NYSE:ETN) by 5.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,614 shares of the industrial products company’s stock after acquiring an additional 131 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in Eaton were worth $820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC purchased a new stake in Eaton in the 2nd quarter valued at about $178,000. Great Valley Advisor Group Inc. increased its position in shares of Eaton by 50.4% during the second quarter. Great Valley Advisor Group Inc. now owns 4,377 shares of the industrial products company’s stock valued at $1,373,000 after acquiring an additional 1,467 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Eaton by 12.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 493,259 shares of the industrial products company’s stock worth $154,662,000 after acquiring an additional 54,546 shares during the period. Andina Capital Management LLC boosted its position in Eaton by 9.9% in the second quarter. Andina Capital Management LLC now owns 1,567 shares of the industrial products company’s stock worth $491,000 after purchasing an additional 141 shares during the last quarter. Finally, Wedmont Private Capital grew its stake in Eaton by 17.5% in the 2nd quarter. Wedmont Private Capital now owns 5,091 shares of the industrial products company’s stock valued at $1,682,000 after purchasing an additional 759 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

ETN has been the subject of a number of research analyst reports. Royal Bank of Canada decreased their price objective on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Barclays upped 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. Wells Fargo & Company decreased their target price on Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Argus boosted their price objective on Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, HSBC increased their target price on shares of Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus price target of $326.53.

Insiders Place Their Bets

In related 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 transaction, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Eaton Price Performance

Shares of NYSE:ETN traded up $2.79 on Wednesday, hitting $298.18. The company’s stock had a trading volume of 1,974,955 shares, compared to its average volume of 2,184,504. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.05. The company has a market capitalization of $119.21 billion, a PE ratio of 35.22, a PEG ratio of 2.47 and a beta of 1.02. The company has a 50-day simple moving average of $311.36 and a 200 day simple moving average of $307.98.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be given a dividend of $0.94 per share. The ex-dividend date is Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.26%. Eaton’s payout ratio is presently 44.39%.

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.