Avidian Wealth Enterprises LLC Has $1.32 Million Stake in Eaton Co. plc (NYSE:ETN)

Avidian Wealth Enterprises LLC reduced its holdings in Eaton Co. plc (NYSE:ETN) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,986 shares of the industrial products company’s stock after selling 254 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Eaton were worth $1,321,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ETN. Breakwater Investment Management lifted 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 worth $26,000 after buying an additional 78 shares during the last quarter. Proffitt & Goodson Inc. bought a new position in Eaton during the second quarter worth $29,000. LGT Financial Advisors LLC bought a new stake in Eaton in the 2nd quarter valued at $33,000. West Financial Advisors LLC acquired a new stake in Eaton in the 3rd quarter worth $35,000. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in Eaton in the 2nd quarter worth $37,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In related news, insider Heath B. Monesmith sold 49,040 shares of the 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 completion of the sale, the insider now directly owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Heath B. Monesmith sold 49,040 shares of the company’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 in the company, valued at $21,451,287.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the firm’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 sale, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,511 shares of company stock worth $17,150,526 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Citigroup initiated coverage on shares of Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 target price for the company. Morgan Stanley started coverage on shares of Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 price target on the stock. Evercore ISI lowered their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Raymond James lowered their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Finally, Mizuho upped their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $343.28.

Eaton Price Performance

Shares of ETN opened at $359.26 on Thursday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The stock has a market cap of $141.98 billion, a P/E ratio of 38.22, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01. The stock’s 50-day moving average price is $325.92 and its two-hundred day moving average price is $319.05. Eaton Co. plc has a 1 year low of $214.03 and a 1 year high of $366.08.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the firm earned $2.47 earnings per share. The business’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities analysts predict that Eaton Co. plc will post 10.78 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Eaton Company 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.