Proquility Private Wealth Partners LLC Has $2.74 Million Stake in Eaton Co. plc (NYSE:ETN)

Proquility Private Wealth Partners LLC raised its stake in Eaton Co. plc (NYSE:ETN) by 9.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,260 shares of the industrial products company’s stock after buying an additional 702 shares during the period. Proquility Private Wealth Partners LLC’s holdings in Eaton were worth $2,738,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Breakwater Investment Management lifted its stake in shares of Eaton by 1,560.0% in the 2nd 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 period. Atwood & Palmer Inc. boosted its holdings in shares of Eaton by 142.9% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after buying an additional 50 shares in the last quarter. Proffitt & Goodson Inc. acquired a new stake in shares of Eaton during the 2nd quarter worth approximately $29,000. LGT Financial Advisors LLC bought a new stake in shares of Eaton in the 2nd quarter valued at $33,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Eaton during the 1st quarter valued at $33,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Barclays upped their price objective on shares of Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company increased their price target on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Evercore ISI decreased their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Royal Bank of Canada cut their price objective on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $339.47.

Eaton Stock Performance

NYSE:ETN opened at $337.50 on Wednesday. The company has a market capitalization of $134.93 billion, a price-to-earnings ratio of 39.91, a PEG ratio of 2.58 and a beta of 1.02. The business has a 50 day moving average of $310.39 and a 200 day moving average of $316.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $347.35.

Eaton (NYSE:ETN) last released its earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating 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 company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. On average, sell-side analysts predict that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a $0.94 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 annualized dividend and a yield of 1.11%. Eaton’s payout ratio is currently 44.39%.

Insider Transactions at Eaton

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the sale, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction that occurred 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dorothy C. Thompson acquired 2,205 shares of Eaton stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the transaction, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 52,511 shares of company stock worth $15,809,326. 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.