Eaton Co. plc (NYSE:ETN) Shares Acquired by Bleakley Financial Group LLC

Bleakley Financial Group LLC increased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,088 shares of the industrial products company’s stock after acquiring an additional 54 shares during the period. Bleakley Financial Group LLC’s holdings in Eaton were worth $4,338,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Strategic Wealth Partners Ltd. boosted its stake in shares of Eaton by 3.0% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after acquiring an additional 30 shares in the last quarter. Legacy Capital Group California Inc. boosted its position in Eaton by 1.2% during the second quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock worth $870,000 after purchasing an additional 32 shares in the last quarter. Well Done LLC grew its holdings in Eaton by 1.3% in the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock valued at $800,000 after purchasing an additional 33 shares during the last quarter. J.W. Cole Advisors Inc. increased its position in shares of Eaton by 1.7% in the second quarter. J.W. Cole Advisors Inc. now owns 2,053 shares of the industrial products company’s stock valued at $644,000 after buying an additional 35 shares in the last quarter. Finally, Front Row Advisors LLC raised its stake in shares of Eaton by 0.4% during the 2nd quarter. Front Row Advisors LLC now owns 7,842 shares of the industrial products company’s stock worth $2,459,000 after buying an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other news, Director Dorothy C. Thompson acquired 2,205 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the purchase, 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 legal filing with the SEC, which can be accessed through the SEC website. In other 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 cost of $300.30 per share, with a total value of $662,161.50. Following the acquisition, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The acquisition was disclosed in a document filed 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 transaction of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares in the company, valued at $2,858,328. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,511 shares of company stock valued at $15,809,326. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on ETN shares. Morgan Stanley began coverage on shares of Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price for the company. Citigroup began 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. Evercore ISI dropped their price target on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Jefferies Financial Group increased their price objective on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Finally, Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $340.06.

Eaton Stock Down 0.1 %

ETN opened at $348.17 on Friday. The company has a market cap of $139.20 billion, a PE ratio of 41.11, a price-to-earnings-growth 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 1 year low of $191.82 and a 1 year high of $349.74. The firm has a 50 day moving average price of $314.01 and a 200 day moving average price of $316.67.

Eaton (NYSE:ETN) last issued 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. 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 the consensus estimate of $6.35 billion. Sell-side analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.94 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. Eaton’s dividend payout ratio (DPR) is currently 44.39%.

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.