Eaton Co. plc (NYSE:ETN) Shares Sold by Leo Wealth LLC

Leo Wealth LLC decreased its holdings in Eaton Co. plc (NYSE:ETN) by 8.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,510 shares of the industrial products company’s stock after selling 147 shares during the period. Leo Wealth LLC’s holdings in Eaton were worth $500,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Eastern Bank raised its holdings in Eaton by 131.3% in the third quarter. Eastern Bank now owns 202,273 shares of the industrial products company’s stock valued at $67,041,000 after buying an additional 114,840 shares during the period. Xcel Wealth Management LLC purchased a new stake in shares of Eaton during the third quarter valued at approximately $204,000. Sequoia Financial Advisors LLC raised its stake in shares of Eaton by 59.9% during the third quarter. Sequoia Financial Advisors LLC now owns 47,763 shares of the industrial products company’s stock valued at $15,831,000 after purchasing an additional 17,898 shares during the period. Traphagen Investment Advisors LLC raised its stake in shares of Eaton by 5.7% during the third quarter. Traphagen Investment Advisors LLC now owns 1,982 shares of the industrial products company’s stock valued at $657,000 after purchasing an additional 107 shares during the period. Finally, Calton & Associates Inc. raised its stake in shares of Eaton by 63.7% during the third quarter. Calton & Associates Inc. now owns 1,264 shares of the industrial products company’s stock valued at $419,000 after purchasing an additional 492 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ETN shares. Citigroup started coverage on shares of Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 price objective on the stock. Morgan Stanley initiated coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price target for the company. Wells Fargo & Company raised their price target on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Raymond James decreased their price target 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. Finally, Evercore ISI decreased their price target on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $340.06.

Insider Transactions at Eaton

In related news, Director Dorothy C. Thompson acquired 2,205 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Dorothy C. Thompson acquired 2,205 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the transaction, the insider now 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. In the last three months, insiders sold 52,511 shares of company stock valued at $15,809,326. Company insiders own 0.53% of the company’s stock.

Eaton Stock Performance

Shares of ETN opened at $343.55 on Wednesday. Eaton Co. plc has a 1 year low of $193.26 and a 1 year high of $349.74. The company has a market cap of $137.35 billion, a price-to-earnings ratio of 40.56, a price-to-earnings-growth 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. The firm has a fifty day moving average of $316.15 and a 200-day moving average of $316.93.

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

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders 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 1.09%. Eaton’s dividend payout ratio (DPR) is 44.39%.

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.