Atomi Financial Group Inc. Has $1.34 Million Position in Eaton Co. plc (NYSE:ETN)

Atomi Financial Group Inc. reduced its holdings in Eaton Co. plc (NYSE:ETN) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,027 shares of the industrial products company’s stock after selling 126 shares during the quarter. Atomi Financial Group Inc.’s holdings in Eaton were worth $1,335,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Alpha Cubed Investments LLC grew its position in shares of Eaton by 10.6% in the third quarter. Alpha Cubed Investments LLC now owns 84,058 shares of the industrial products company’s stock valued at $27,860,000 after purchasing an additional 8,084 shares during the last quarter. Chesley Taft & Associates LLC lifted its stake in shares of Eaton by 1.9% in the third quarter. Chesley Taft & Associates LLC now owns 9,563 shares of the industrial products company’s stock valued at $3,170,000 after buying an additional 175 shares during the period. Callan Family Office LLC lifted its stake in shares of Eaton by 83.3% in the third quarter. Callan Family Office LLC now owns 1,219 shares of the industrial products company’s stock valued at $404,000 after buying an additional 554 shares during the period. Atwood & Palmer Inc. lifted its stake in shares of Eaton by 102.4% in the third quarter. Atwood & Palmer Inc. now owns 172 shares of the industrial products company’s stock valued at $57,000 after buying an additional 87 shares during the period. Finally, City Center Advisors LLC bought a new stake in shares of Eaton in the third quarter valued at about $226,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Performance

NYSE ETN opened at $335.47 on Wednesday. The firm has a market cap of $134.12 billion, a price-to-earnings ratio of 39.61, a PEG ratio of 2.53 and a beta of 1.02. The company has a 50 day moving average of $304.08 and a 200-day moving average of $314.92. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.12. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. On average, equities analysts forecast that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s dividend payout ratio is currently 44.39%.

Insider Activity at Eaton

In related news, Director Dorothy C. Thompson purchased 2,205 shares of the stock in a transaction that occurred 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 acquisition, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the sale, the insider now owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, with a total value of $662,161.50. Following the acquisition, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. The disclosure for this purchase can be found here. Insiders sold a total of 52,511 shares of company stock valued at $15,809,326 over the last quarter. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ETN. Raymond James reduced their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Morgan Stanley began coverage on shares of Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price for the company. Wells Fargo & Company increased their target price on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday. Jefferies Financial Group raised their price target on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Barclays raised their price target on shares of Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $339.47.

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.