Venturi Wealth Management LLC Increases Holdings in Eaton Co. plc (NYSE:ETN)

Venturi Wealth Management LLC grew its stake in Eaton Co. plc (NYSE:ETN) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,549 shares of the industrial products company’s stock after acquiring an additional 32 shares during the quarter. Venturi Wealth Management LLC’s holdings in Eaton were worth $513,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Strategic Wealth Partners Ltd. grew its position in shares of Eaton by 3.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 30 shares during the period. Fairfield Financial Advisors LTD increased its stake in shares of Eaton by 16.2% during the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after acquiring an additional 30 shares during the last quarter. Legacy Capital Group California Inc. lifted its holdings in shares of Eaton by 1.2% during the 2nd quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock worth $870,000 after acquiring an additional 32 shares during the period. Well Done LLC grew its holdings in Eaton by 1.3% in the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock valued at $800,000 after purchasing an additional 33 shares during the period. Finally, Austin Private Wealth LLC increased its position in Eaton by 3.7% during the third quarter. Austin Private Wealth LLC now owns 929 shares of the industrial products company’s stock worth $308,000 after purchasing an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Down 0.8 %

NYSE:ETN opened at $369.05 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The company has a market capitalization of $145.85 billion, a price-to-earnings ratio of 39.26, a price-to-earnings-growth ratio of 2.94 and a beta of 1.01. Eaton Co. plc has a one year low of $220.24 and a one year high of $373.49. The stock has a 50-day simple moving average of $329.60 and a 200 day simple moving average of $320.18.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the prior year, the business earned $2.47 earnings per share. Eaton’s quarterly revenue was up 7.9% on a year-over-year basis. Sell-side analysts predict that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.02%. The ex-dividend date is Monday, November 4th. Eaton’s payout ratio is currently 40.00%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ETN shares. Evercore ISI lowered their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Citigroup started coverage on Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $374.00 target price on shares of Eaton in a report on Friday, November 1st. Wells Fargo & Company raised their price target 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. Finally, Morgan Stanley began coverage on shares of Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $343.28.

Insider Transactions at Eaton

In other Eaton news, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This trade represents 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, Director Dorothy C. Thompson purchased 2,205 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were purchased 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 $662,161.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 117,745 shares of company stock valued at $39,278,367. 0.53% of the stock is currently owned by corporate insiders.

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.