Veracity Capital LLC Has $251,000 Stake in Eaton Co. plc (NYSE:ETN)

Veracity Capital LLC reduced its holdings in Eaton Co. plc (NYSE:ETN) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 757 shares of the industrial products company’s stock after selling 32 shares during the period. Veracity Capital LLC’s holdings in Eaton were worth $251,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RFG Advisory LLC boosted its position in Eaton by 5.3% during the first quarter. RFG Advisory LLC now owns 4,233 shares of the industrial products company’s stock valued at $1,323,000 after purchasing an additional 213 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Eaton by 139.5% in the 1st quarter. International Assets Investment Management LLC now owns 3,145 shares of the industrial products company’s stock valued at $981,000 after buying an additional 1,832 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in Eaton during the first quarter worth $47,000. Global Trust Asset Management LLC raised its position in Eaton by 37.5% during the first quarter. Global Trust Asset Management LLC now owns 275 shares of the industrial products company’s stock worth $86,000 after acquiring an additional 75 shares in the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in Eaton in the first quarter valued at $8,976,000. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

Shares of NYSE ETN opened at $348.18 on Monday. The stock has a market capitalization of $139.20 billion, a PE ratio of 41.11, a P/E/G ratio of 2.58 and a beta of 1.02. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $349.74. 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 has a fifty day moving average price of $314.01 and a two-hundred day moving average price of $316.65.

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. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. As a group, equities analysts predict that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a dividend of $0.94 per share. The ex-dividend date was Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.08%. Eaton’s dividend payout ratio is currently 44.39%.

Analysts Set New Price Targets

ETN has been the topic of a number of research analyst reports. Jefferies Financial Group upped their target price on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Royal Bank of Canada cut their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Citigroup assumed coverage on Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 price target on the stock. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, Raymond James cut 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. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $340.06.

Insiders Place Their Bets

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the acquisition, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Dorothy C. Thompson purchased 2,205 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought 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 of the company’s stock, valued at $662,161.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Karenann K. Terrell acquired 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average cost of $298.97 per share, with a total value of $149,485.00. Following the purchase, the director now owns 500 shares in the company, valued at $149,485. The disclosure for this purchase can be found here. Insiders sold 52,511 shares of company stock worth $15,809,326 over the last three months. Insiders own 0.53% of the company’s stock.

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.