DT Investment Partners LLC Invests $37,000 in Eaton Co. plc (NYSE:ETN)

DT Investment Partners LLC purchased a new position in shares of Eaton Co. plc (NYSE:ETN) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 112 shares of the industrial products company’s stock, valued at approximately $37,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brookstone Capital Management lifted its holdings in shares of Eaton by 15.5% in the 1st quarter. Brookstone Capital Management now owns 1,375 shares of the industrial products company’s stock worth $430,000 after purchasing an additional 185 shares in the last quarter. Wealthcare Advisory Partners LLC increased its stake in Eaton by 19.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,803 shares of the industrial products company’s stock valued at $1,189,000 after purchasing an additional 614 shares in the last quarter. Capital Asset Advisory Services LLC acquired a new position in Eaton during the first quarter worth $215,000. OneAscent Financial Services LLC lifted its stake in shares of Eaton by 2.2% in the first quarter. OneAscent Financial Services LLC now owns 2,891 shares of the industrial products company’s stock valued at $907,000 after buying an additional 62 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of Eaton by 36.0% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 1,450 shares of the industrial products company’s stock valued at $453,000 after buying an additional 384 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. 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 research report on Monday, October 7th. Barclays lifted their target price on Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada lowered their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, Morgan Stanley began coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price for the company. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Eaton currently has an average rating of “Moderate Buy” and a consensus target price of $340.06.

Eaton Stock Down 0.2 %

ETN stock opened at $344.49 on Friday. Eaton Co. plc has a fifty-two week low of $193.77 and a fifty-two week high of $349.74. The stock has a fifty day moving average of $317.94 and a 200-day moving average of $317.32. The company has a market capitalization of $137.73 billion, a price-to-earnings ratio of 40.67, a PEG ratio of 2.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56.

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

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders 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 dividend yield of 1.09%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s payout ratio is currently 44.39%.

Insider Activity

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction dated 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 owns 9,900 shares in the company, valued at $2,858,328. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Karenann K. Terrell purchased 500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were purchased at an average price of $298.97 per share, with a total value of $149,485.00. Following the completion of the acquisition, the director now owns 500 shares in the company, valued at $149,485. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of Eaton 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 directly owns 9,900 shares of the company’s stock, valued at $2,858,328. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,511 shares of company stock worth $15,809,326. 0.53% of the stock is owned by corporate insiders.

About Eaton

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.