Clearstead Trust LLC Buys 120 Shares of Eaton Co. plc (NYSE:ETN)

Clearstead Trust LLC increased its stake in shares of Eaton Co. plc (NYSE:ETN) by 63.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 309 shares of the industrial products company’s stock after purchasing an additional 120 shares during the quarter. Clearstead Trust LLC’s holdings in Eaton were worth $97,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ETN. Congress Wealth Management LLC DE grew its position in Eaton by 8.1% in the 4th quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company’s stock valued at $18,479,000 after acquiring an additional 5,725 shares during the last quarter. Norden Group LLC bought a new position in Eaton in the 1st quarter valued at $2,176,000. Weiss Asset Management LP bought a new position in Eaton in the 4th quarter valued at $1,001,000. Prospector Partners LLC grew its position in Eaton by 0.6% in the 4th quarter. Prospector Partners LLC now owns 71,307 shares of the industrial products company’s stock valued at $17,172,000 after acquiring an additional 415 shares during the last quarter. Finally, Griffin Asset Management Inc. bought a new position in Eaton in the 1st quarter valued at $813,000. Institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 0.2 %

Shares of NYSE ETN opened at $306.55 on Tuesday. The business has a fifty day moving average price of $300.31 and a 200 day moving average price of $311.96. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19. The stock has a market capitalization of $122.56 billion, a P/E ratio of 36.19, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS 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 during the quarter, compared to analysts’ expectations of $6.35 billion. Equities research analysts expect that Eaton Co. plc will post 10.74 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Insider Buying and Selling at Eaton

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was 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 SEC, which is available at the SEC website. In related news, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now owns 3,914 shares of the company’s stock, valued at $1,186,411.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the sale, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,511 shares of company stock worth $15,809,326. 0.53% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on ETN. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Royal Bank of Canada dropped their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Jefferies Financial Group increased their price target on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Raymond James dropped their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Finally, 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. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $337.41.

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.