Wealth Alliance Has $2.20 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Wealth Alliance decreased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 10.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,013 shares of the industrial products company’s stock after selling 813 shares during the period. Wealth Alliance’s holdings in Eaton were worth $2,199,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Gryphon Financial Partners LLC raised its holdings in shares of Eaton by 81.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock valued at $565,000 after purchasing an additional 1,053 shares during the last quarter. Great Lakes Advisors LLC raised its holdings in shares of Eaton by 24.8% in the fourth quarter. Great Lakes Advisors LLC now owns 2,176 shares of the industrial products company’s stock valued at $524,000 after purchasing an additional 432 shares during the last quarter. Gladstone Institutional Advisory LLC raised its holdings in shares of Eaton by 32.7% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 2,047 shares of the industrial products company’s stock valued at $493,000 after purchasing an additional 505 shares during the last quarter. Coldstream Capital Management Inc. grew its position in Eaton by 10.1% during the fourth quarter. Coldstream Capital Management Inc. now owns 7,758 shares of the industrial products company’s stock valued at $1,868,000 after buying an additional 710 shares during the period. Finally, Sachetta LLC bought a new position in Eaton during the fourth quarter valued at about $66,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Up 1.7 %

Shares of ETN opened at $311.70 on Wednesday. The firm’s 50 day simple moving average is $300.17 and its 200 day simple moving average is $312.08. The company has a market capitalization of $124.62 billion, a P/E ratio of 36.80, a P/E/G ratio of 2.28 and a beta of 1.01. 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.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. Sell-side analysts forecast that Eaton Co. plc will post 10.74 earnings per share 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 dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Insiders Place Their Bets

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at $2,858,328. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dorothy C. Thompson bought 2,205 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The disclosure for this purchase can be found here. Over the last ninety days, 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ETN shares. Evercore ISI reduced their price target on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Citigroup started coverage on shares of Eaton in a research report on Monday. They set a “buy” rating and a $348.00 price target for the company. Morgan Stanley assumed coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price target for the company. Wells Fargo & Company cut their target price on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Finally, Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and an average target price of $337.41.

About Eaton

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.