Eaton Co. plc (NYSE:ETN) Shares Sold by Gratus Wealth Advisors LLC

Gratus Wealth Advisors LLC reduced its stake in Eaton Co. plc (NYSE:ETN) by 4.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 788 shares of the industrial products company’s stock after selling 37 shares during the period. Gratus Wealth Advisors LLC’s holdings in Eaton were worth $264,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Capital World Investors lifted its position in Eaton by 323.8% in the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after acquiring an additional 2,439,270 shares during the last quarter. Jennison Associates LLC increased its position in shares of Eaton by 2,857.4% during the first quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock worth $394,752,000 after purchasing an additional 1,219,790 shares in the last quarter. Swedbank AB acquired a new stake in shares of Eaton in the 2nd quarter valued at about $225,974,000. Assenagon Asset Management S.A. grew its stake in Eaton by 1,604.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock worth $211,201,000 after buying an additional 634,059 shares during the last quarter. Finally, Wulff Hansen & CO. increased its position in Eaton by 31,255.0% during the second quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock worth $149,928,000 after buying an additional 476,639 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 0.3 %

Shares of ETN stock opened at $335.47 on Wednesday. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. The business’s fifty day moving average price is $304.08 and its 200 day moving average price is $314.92. The firm has a market capitalization of $134.12 billion, a PE ratio of 39.61, a P/E/G ratio of 2.53 and a beta of 1.02.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.35 billion. As a group, sell-side analysts forecast that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.12%. Eaton’s payout ratio is 44.39%.

Wall Street Analyst Weigh In

ETN has been the subject of several research analyst reports. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Royal Bank of Canada lowered their price objective on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company upped their target price on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday. Evercore ISI lowered their price target on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Finally, Morgan Stanley assumed coverage on Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective for the company. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $339.47.

Insider Transactions at Eaton

In other news, Director Dorothy C. Thompson purchased 2,205 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of Eaton stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was 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 approximately $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 quarter. 0.53% of the stock is currently owned by corporate insiders.

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.