Revolve Wealth Partners LLC Has $258,000 Stock Holdings in Eaton Co. plc (NYSE:ETN)

Revolve Wealth Partners LLC lessened its stake in Eaton Co. plc (NYSE:ETN) by 4.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 777 shares of the industrial products company’s stock after selling 40 shares during the period. Revolve Wealth Partners LLC’s holdings in Eaton were worth $258,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Chicago Capital LLC boosted its stake in Eaton by 6.6% during the third quarter. Chicago Capital LLC now owns 65,789 shares of the industrial products company’s stock worth $21,805,000 after acquiring an additional 4,087 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Eaton by 21.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 252,312 shares of the industrial products company’s stock valued at $83,626,000 after purchasing an additional 44,052 shares in the last quarter. Legacy Financial Strategies LLC acquired a new position in Eaton during the third quarter worth $256,000. NovaPoint Capital LLC lifted its stake in shares of Eaton by 7.3% in the third quarter. NovaPoint Capital LLC now owns 4,273 shares of the industrial products company’s stock valued at $1,416,000 after buying an additional 290 shares in the last quarter. Finally, Capital Investment Advisors LLC grew its holdings in shares of Eaton by 3.0% during the third quarter. Capital Investment Advisors LLC now owns 5,440 shares of the industrial products company’s stock valued at $1,803,000 after buying an additional 158 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Morgan Stanley initiated coverage on shares of Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Royal Bank of Canada dropped their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Citigroup started coverage on Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 target price on the stock. Finally, Wells Fargo & Company upped their price objective on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $340.06.

Insider Activity at Eaton

In other news, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the transaction, the insider now directly owns 71,262 shares in the company, valued at $21,451,287.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock valued at $15,809,326 in the last 90 days. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Down 0.1 %

Shares of Eaton stock opened at $348.18 on Monday. The stock has a market capitalization of $139.20 billion, a price-to-earnings ratio of 41.11, a P/E/G ratio of 2.58 and a beta of 1.02. The company’s 50 day moving average price is $314.01 and its 200-day moving average price is $316.65. 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 announced its earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. Equities research analysts forecast that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Dividend Announcement

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

About Eaton

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.