EP Wealth Advisors LLC Boosts Stake in Eaton Co. plc (NYSE:ETN)

EP Wealth Advisors LLC increased its position in Eaton Co. plc (NYSE:ETN) by 52.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,080 shares of the industrial products company’s stock after purchasing an additional 10,295 shares during the quarter. EP Wealth Advisors LLC’s holdings in Eaton were worth $9,970,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ETN. Diversify Advisory Services LLC lifted its position in Eaton by 14.0% during the 2nd quarter. Diversify Advisory Services LLC now owns 1,356 shares of the industrial products company’s stock valued at $432,000 after acquiring an additional 167 shares during the period. Sapient Capital LLC lifted its holdings in shares of Eaton by 27.7% during the second quarter. Sapient Capital LLC now owns 1,080 shares of the industrial products company’s stock valued at $339,000 after purchasing an additional 234 shares during the last quarter. RFG Advisory LLC boosted its position in shares of Eaton by 8.5% in the 2nd quarter. RFG Advisory LLC now owns 4,594 shares of the industrial products company’s stock worth $1,440,000 after purchasing an additional 361 shares in the last quarter. Dynamic Advisor Solutions LLC grew its stake in shares of Eaton by 2.5% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 11,650 shares of the industrial products company’s stock worth $3,653,000 after buying an additional 288 shares during the last quarter. Finally, MorganRosel Wealth Management LLC increased its position in Eaton by 2.3% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 3,791 shares of the industrial products company’s stock valued at $1,189,000 after buying an additional 85 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Price Performance

Eaton stock opened at $371.22 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The company’s fifty day moving average price is $352.74 and its 200 day moving average price is $325.88. The stock has a market capitalization of $146.71 billion, a P/E ratio of 39.49, a P/E/G ratio of 2.86 and a beta of 1.03. Eaton Co. plc has a 1 year low of $226.79 and a 1 year high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.47 earnings per share. As a group, equities research analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $374.00 target price on shares of Eaton in a research note on Friday, November 1st. Citigroup assumed coverage on shares of Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 price objective for the company. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and increased their price target for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. UBS Group assumed coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Finally, Mizuho boosted their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.72.

Insider Transactions at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,981 shares of company stock worth $24,100,317 in the last quarter. Company insiders own 0.53% of the company’s stock.

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.