Eaton Co. plc (NYSE:ETN) Shares Acquired by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc boosted its holdings in Eaton Co. plc (NYSE:ETN) by 11.4% during the third quarter, HoldingsChannel.com reports. The fund owned 29,914 shares of the industrial products company’s stock after acquiring an additional 3,070 shares during the period. Eaton accounts for about 0.9% of Marks Group Wealth Management Inc’s portfolio, making the stock its 17th biggest position. Marks Group Wealth Management Inc’s holdings in Eaton were worth $9,915,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Breakwater Investment Management increased its position in Eaton by 1,560.0% in 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 period. Proffitt & Goodson Inc. acquired a new stake in shares of Eaton in the 2nd quarter worth about $29,000. LGT Financial Advisors LLC bought a new stake in Eaton in the 2nd quarter valued at about $33,000. West Financial Advisors LLC acquired a new position in Eaton during the 3rd quarter valued at about $35,000. Finally, DT Investment Partners LLC bought a new position in Eaton in the 3rd quarter worth about $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on ETN shares. Evercore ISI lowered their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Barclays cut their price objective on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Raymond James decreased their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Wells Fargo & Company increased 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 fourteen have assigned a buy rating to the company. According to data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $343.28.

Insider Buying and Selling at Eaton

In other news, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares in the company, valued at approximately $17,241,796.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Karenann K. Terrell purchased 500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were purchased at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the purchase, the director now directly owns 500 shares of the company’s stock, valued at approximately $149,485. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares in the company, valued at $17,241,796.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,511 shares of company stock worth $17,150,526 over the last three months. Corporate insiders own 0.33% of the company’s stock.

Eaton Trading Up 2.0 %

NYSE:ETN opened at $337.59 on Wednesday. The stock’s 50-day moving average is $324.60 and its two-hundred day moving average is $318.76. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The stock has a market cap of $133.42 billion, a PE ratio of 35.91, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01. Eaton Co. plc has a fifty-two week low of $211.99 and a fifty-two week high of $349.74.

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

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio is presently 40.00%.

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.