Eaton Co. plc (NYSE:ETN) Stock Holdings Lifted by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC increased its holdings in Eaton Co. plc (NYSE:ETN) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,914 shares of the industrial products company’s stock after buying an additional 43 shares during the period. Resonant Capital Advisors LLC’s holdings in Eaton were worth $634,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Breakwater Investment Management grew its holdings in shares of Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 78 shares during the last quarter. Proffitt & Goodson Inc. acquired a new position in Eaton during the 2nd quarter valued at approximately $29,000. Redmont Wealth Advisors LLC bought a new position in Eaton during the 1st quarter worth $33,000. LGT Financial Advisors LLC acquired a new stake in Eaton in the second quarter worth $33,000. Finally, West Financial Advisors LLC acquired a new position in shares of Eaton during the third quarter valued at $35,000. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ETN. Barclays lifted their price objective on shares of Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Raymond James lowered their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Jefferies Financial Group boosted their price target on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Wells Fargo & Company raised their price target on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Eaton has an average rating of “Moderate Buy” and an average target price of $340.06.

Eaton Stock Down 0.1 %

NYSE ETN opened at $348.18 on Monday. The company has a market capitalization of $139.20 billion, a P/E ratio of 41.11, a PEG ratio of 2.58 and a beta of 1.02. Eaton Co. plc has a 12 month low of $191.82 and a 12 month 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 company’s 50 day simple moving average is $314.01 and its 200 day simple moving average is $316.65.

Eaton (NYSE:ETN) last released 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 business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. Equities research analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

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