Mount Yale Investment Advisors LLC Buys 1,146 Shares of Eaton Co. plc (NYSE:ETN)

Mount Yale Investment Advisors LLC grew its position in shares of Eaton Co. plc (NYSE:ETN) by 63.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,953 shares of the industrial products company’s stock after acquiring an additional 1,146 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Eaton were worth $979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Brookstone Capital Management grew its holdings in shares of Eaton by 15.5% in the first quarter. Brookstone Capital Management now owns 1,375 shares of the industrial products company’s stock valued at $430,000 after acquiring an additional 185 shares in the last quarter. Wealthcare Advisory Partners LLC increased its position in shares of Eaton by 19.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,803 shares of the industrial products company’s stock valued at $1,189,000 after purchasing an additional 614 shares during the last quarter. Capital Asset Advisory Services LLC bought a new stake in shares of Eaton during the 1st quarter worth $215,000. OneAscent Financial Services LLC boosted its holdings in shares of Eaton by 2.2% in the 1st quarter. OneAscent Financial Services LLC now owns 2,891 shares of the industrial products company’s stock worth $907,000 after buying an additional 62 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in Eaton by 36.0% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 1,450 shares of the industrial products company’s stock valued at $453,000 after buying an additional 384 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Raymond James dropped their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Jefferies Financial Group increased their price objective on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Evercore ISI dropped their price target on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Morgan Stanley initiated coverage on Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective for the company. Finally, Wells Fargo & Company upped their price objective on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $340.06.

Insider Buying and Selling

In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the business’s 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 completion of the transaction, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. 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 at this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 52,511 shares of company stock worth $15,809,326. Insiders own 0.53% of the company’s stock.

Eaton Stock Performance

Eaton stock opened at $344.49 on Friday. The firm’s 50 day simple moving average is $317.94 and its 200 day simple moving average is $317.32. 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 $193.77 and a 1-year high of $349.74. The firm has a market capitalization of $137.73 billion, a PE ratio of 40.67, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02.

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

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s 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.