1,649 Shares in Eaton Co. plc (NYSE:ETN) Bought by Greystone Financial Group LLC

by · The Markets Daily

Greystone Financial Group LLC purchased a new position in Eaton Co. plc (NYSE:ETN – Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,649 shares of the industrial products company’s stock, valued at approximately $547,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital World Investors boosted its position in Eaton by 323.8% in the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after purchasing an additional 2,439,270 shares during the last quarter. Jennison Associates LLC increased its stake in Eaton by 2,857.4% in the 1st quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock worth $394,752,000 after acquiring an additional 1,219,790 shares during the last quarter. International Assets Investment Management LLC increased its stake in Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after acquiring an additional 1,070,024 shares during the last quarter. Swedbank AB bought a new stake in Eaton in the 2nd quarter worth approximately $225,974,000. Finally, Assenagon Asset Management S.A. increased its stake in Eaton by 1,604.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock worth $211,201,000 after acquiring an additional 634,059 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In related news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton 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 of the company’s stock, valued at $2,858,328. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is currently owned by corporate insiders.

Eaton Price Performance

ETN stock opened at $345.00 on Thursday. The business has a fifty day moving average of $317.08 and a two-hundred day moving average of $317.12. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The stock has a market cap of $137.93 billion, a price-to-earnings ratio of 40.73, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. Eaton Co. plc has a 52-week low of $193.77 and a 52-week high of $349.74.

Eaton (NYSE:ETN – Get Free Report) last posted its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.12. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. As a group, research analysts anticipate that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be paid a $0.94 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. Eaton’s payout ratio is presently 44.39%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ETN. Mizuho boosted their target price on Eaton from $355.00 to $365.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Raymond James cut their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Royal Bank of Canada cut their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Jefferies Financial Group upped their target price on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Finally, Morgan Stanley initiated coverage on Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price for the company. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $340.06.

View Our Latest Research Report on Eaton

About Eaton

(Free Report)

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.

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