Eaton Co. plc (NYSE:ETN) Position Increased by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC lifted its position in Eaton Co. plc (NYSE:ETN) by 11.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 776 shares of the industrial products company’s stock after buying an additional 82 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Eaton were worth $257,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ETN. Breakwater Investment Management lifted its stake in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 78 shares in the last quarter. Proffitt & Goodson Inc. purchased a new stake in shares of Eaton during the 2nd quarter worth about $29,000. Redmont Wealth Advisors LLC bought a new stake in shares of Eaton in the 1st quarter valued at approximately $33,000. LGT Financial Advisors LLC acquired a new position in Eaton in the second quarter worth approximately $33,000. Finally, West Financial Advisors LLC bought a new position in Eaton during the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ETN shares. Royal Bank of Canada cut their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Jefferies Financial Group boosted 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. Morgan Stanley assumed coverage on Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective on the stock. Wells Fargo & Company upped their target price on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Barclays lifted their price target on shares of Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $340.06.

Insider Buying and Selling at Eaton

In other Eaton news, Director Dorothy C. Thompson bought 2,205 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the transaction, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Dorothy C. Thompson bought 2,205 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 sale, the insider now owns 9,900 shares in the company, valued at $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,511 shares of company stock valued at $15,809,326 in the last 90 days. 0.53% of the stock is currently owned by company insiders.

Eaton Stock Performance

NYSE:ETN opened at $348.18 on Friday. The firm’s 50-day moving average is $314.01 and its 200-day moving average is $316.68. The company has a market cap of $139.20 billion, a price-to-earnings ratio of 41.11, a PEG ratio of 2.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. Eaton Co. plc has a 52-week low of $191.82 and a 52-week high of $349.74.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Equities research analysts anticipate that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Dividend Announcement

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. The ex-dividend date was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. Eaton’s dividend payout ratio is currently 44.39%.

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.