XML Financial LLC Boosts Stock Position in Eaton Co. plc (NYSE:ETN)

XML Financial LLC grew its holdings in shares of Eaton Co. plc (NYSE:ETN) by 5.9% in the third quarter, Holdings Channel reports. The institutional investor owned 1,162 shares of the industrial products company’s stock after purchasing an additional 65 shares during the period. XML Financial LLC’s holdings in Eaton were worth $385,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. IAM Advisory LLC purchased a new position in Eaton in the second quarter valued at approximately $599,000. Interval Partners LP grew its position in shares of Eaton by 82.7% in the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock valued at $47,571,000 after buying an additional 68,693 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in Eaton by 40.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 19,513 shares of the industrial products company’s stock worth $6,101,000 after acquiring an additional 5,634 shares in the last quarter. Scientech Research LLC lifted its position in Eaton by 285.5% in the second quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock valued at $1,801,000 after acquiring an additional 4,254 shares during the last quarter. Finally, Prevail Innovative Wealth Advisors LLC acquired a new position in Eaton in the first quarter valued at $1,758,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Karenann K. Terrell purchased 500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was bought at an average cost of $298.97 per share, with a total value of $149,485.00. Following the completion of the acquisition, the director now directly owns 500 shares in the company, valued at $149,485. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Karenann K. Terrell acquired 500 shares of Eaton stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average price of $298.97 per share, with a total value of $149,485.00. Following the completion of the purchase, the director now owns 500 shares of the company’s stock, valued at approximately $149,485. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 117,745 shares of company stock worth $39,278,367 in the last ninety days. Insiders own 0.53% of the company’s stock.

Eaton Stock Performance

NYSE:ETN opened at $366.67 on Monday. The firm’s fifty day simple moving average is $328.30 and its 200-day simple moving average is $319.79. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The stock has a market cap of $144.91 billion, a PE ratio of 39.01, a price-to-earnings-growth ratio of 2.88 and a beta of 1.01. Eaton Co. plc has a fifty-two week low of $217.61 and a fifty-two week high of $369.29.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the prior year, the company earned $2.47 earnings per share. Eaton’s revenue was up 7.9% compared to the same quarter last year. Analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.03%. Eaton’s dividend payout ratio (DPR) is 40.00%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ETN. Citigroup started coverage on Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 target price for the company. Barclays reduced their price objective on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Sanford C. Bernstein initiated coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target for the company. Finally, Evercore ISI dropped their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $343.28.

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.