Front Row Advisors LLC Purchases 35 Shares of Eaton Co. plc (NYSE:ETN)

Front Row Advisors LLC increased its position in Eaton Co. plc (NYSE:ETN) by 0.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,842 shares of the industrial products company’s stock after purchasing an additional 35 shares during the quarter. Front Row Advisors LLC’s holdings in Eaton were worth $2,459,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LifeSteps Financial Inc. bought a new position in shares of Eaton during the first quarter valued at approximately $25,000. Breakwater Investment Management grew its stake in shares of 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 buying an additional 78 shares during the last quarter. Atwood & Palmer Inc. increased its position in Eaton by 142.9% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock valued at $27,000 after buying an additional 50 shares in the last quarter. Proffitt & Goodson Inc. purchased a new stake in shares of Eaton in the second quarter worth $29,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Eaton in the first quarter worth $33,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Price Performance

NYSE ETN opened at $328.45 on Friday. The company has a 50-day moving average price of $301.03 and a 200-day moving average price of $313.73. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $131.31 billion, a P/E ratio of 38.78, a PEG ratio of 2.53 and a beta of 1.01. Eaton Co. plc has a 52 week low of $191.82 and a 52 week high of $345.19.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, topping 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 during 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.14%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio is 44.39%.

Insiders Place Their Bets

In other news, Director Dorothy C. Thompson acquired 2,205 shares of Eaton stock in a transaction dated Tuesday, September 3rd. The stock was 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 directly owns 2,205 shares in the company, valued at approximately $662,161.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Michael Yelton sold 3,136 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the transaction, the insider now directly owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dorothy C. Thompson purchased 2,205 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the purchase, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 52,511 shares of company stock worth $15,809,326. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Barclays upped their price target on shares of Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Morgan Stanley initiated coverage on shares of Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 price target on the stock. Jefferies Financial Group boosted their price objective on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Raymond James cut their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Finally, Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research note 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.