Sax Wealth Advisors LLC Raises Stock Position in Eaton Co. plc (NYSE:ETN)

Sax Wealth Advisors LLC lifted its holdings in Eaton Co. plc (NYSE:ETN) by 39.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,710 shares of the industrial products company’s stock after acquiring an additional 481 shares during the period. Sax Wealth Advisors LLC’s holdings in Eaton were worth $536,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ETN. Congress Wealth Management LLC DE increased its position in shares of Eaton by 8.1% during the 4th quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company’s stock valued at $18,479,000 after purchasing an additional 5,725 shares during the last quarter. Norden Group LLC bought a new stake in shares of Eaton in the 1st quarter worth about $2,176,000. Weiss Asset Management LP purchased a new position in shares of Eaton during the 4th quarter worth about $1,001,000. Prospector Partners LLC grew its holdings in Eaton by 0.6% during the 4th quarter. Prospector Partners LLC now owns 71,307 shares of the industrial products company’s stock valued at $17,172,000 after purchasing an additional 415 shares during the last quarter. Finally, Spire Wealth Management raised its position in Eaton by 66.0% in the 4th quarter. Spire Wealth Management now owns 14,914 shares of the industrial products company’s stock worth $3,648,000 after purchasing an additional 5,932 shares during the period. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

ETN stock traded up $4.16 during trading on Friday, reaching $291.64. The company had a trading volume of 2,190,467 shares, compared to its average volume of 2,186,878. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.56. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.19. The company has a market cap of $116.60 billion, a price-to-earnings ratio of 34.43, a price-to-earnings-growth ratio of 2.47 and a beta of 1.02. The firm has a 50-day simple moving average of $312.50 and a 200-day simple moving average of $306.87.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Monday, August 5th. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Analysts Set New Price Targets

A number of research firms have recently commented on ETN. Mizuho reaffirmed a “buy” rating and set a $355.00 target price (up previously from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. Wells Fargo & Company decreased their target price on Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Raymond James assumed coverage on shares of Eaton in a report on Friday, June 28th. They issued an “outperform” rating and a $375.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, HSBC upped their target price on shares of Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $326.53.

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.