Clearstead Trust LLC Acquires 120 Shares of Eaton Co. plc (NYSE:ETN)

Clearstead Trust LLC increased its holdings in Eaton Co. plc (NYSE:ETN) by 63.5% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 309 shares of the industrial products company’s stock after buying an additional 120 shares during the quarter. Clearstead Trust LLC’s holdings in Eaton were worth $97,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. LifeSteps Financial Inc. bought a new stake in Eaton in the 1st quarter worth about $25,000. Breakwater Investment Management grew its stake in shares of Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 78 shares during the period. Atwood & Palmer Inc. grew its stake in shares of Eaton by 142.9% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 50 shares during the period. Proffitt & Goodson Inc. bought a new stake in shares of Eaton during the 2nd quarter valued at about $29,000. Finally, LGT Financial Advisors LLC bought a new stake in shares of Eaton during the 2nd quarter valued at about $33,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ETN shares. Raymond James cut their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Royal Bank of Canada cut their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Barclays boosted their price target on Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Morgan Stanley initiated coverage on Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 price target for the company. Finally, Evercore ISI cut their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $337.41.

Eaton Stock Up 0.2 %

NYSE ETN opened at $306.55 on Tuesday. The stock’s 50 day moving average is $300.31 and its 200 day moving average is $311.96. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. Eaton Co. plc has a 12 month low of $191.82 and a 12 month high of $345.19. The stock has a market cap of $122.56 billion, a PE ratio of 36.19, a P/E/G ratio of 2.28 and a beta of 1.01.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Research analysts predict that Eaton Co. plc will post 10.74 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.23%. Eaton’s dividend payout ratio (DPR) is 44.39%.

Insider Transactions at Eaton

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the sale, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Dorothy C. Thompson bought 2,205 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. The disclosure for this sale can be found here. Insiders have sold 52,511 shares of company stock valued at $15,809,326 in the last ninety days. Corporate insiders own 0.53% of the company’s stock.

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.