Eaton Co. plc (NYSE:ETN) Shares Sold by Meadow Creek Wealth Advisors LLC

Meadow Creek Wealth Advisors LLC reduced its holdings in Eaton Co. plc (NYSE:ETN) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,056 shares of the industrial products company’s stock after selling 41 shares during the period. Eaton comprises 1.3% of Meadow Creek Wealth Advisors LLC’s holdings, making the stock its 17th largest position. Meadow Creek Wealth Advisors LLC’s holdings in Eaton were worth $1,676,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ETN. Strategic Wealth Partners Ltd. boosted its position in shares of Eaton by 3.0% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after acquiring an additional 30 shares in the last quarter. Legacy Capital Group California Inc. boosted its position in shares of Eaton by 1.2% during the 2nd quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock worth $870,000 after acquiring an additional 32 shares in the last quarter. Well Done LLC boosted its position in shares of Eaton by 1.3% during the 2nd quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock worth $800,000 after acquiring an additional 33 shares in the last quarter. J.W. Cole Advisors Inc. boosted its position in shares of Eaton by 1.7% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 2,053 shares of the industrial products company’s stock worth $644,000 after acquiring an additional 35 shares in the last quarter. Finally, Front Row Advisors LLC boosted its position in shares of Eaton by 0.4% during the 2nd quarter. Front Row Advisors LLC now owns 7,842 shares of the industrial products company’s stock worth $2,459,000 after acquiring an additional 35 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Down 1.4 %

ETN opened at $338.63 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average price of $316.15 and a two-hundred day moving average price of $316.93. Eaton Co. plc has a 52 week low of $193.77 and a 52 week high of $349.74. The company has a market cap of $135.38 billion, a PE ratio of 40.56, a P/E/G ratio of 2.58 and a beta of 1.02.

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

Eaton Announces Dividend

The firm 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 annualized dividend and a dividend yield of 1.11%. Eaton’s dividend payout ratio is currently 44.39%.

Wall Street Analyst Weigh In

ETN has been the subject of several analyst reports. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Wells Fargo & Company upped their price objective on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Citigroup initiated coverage on Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 target price for the company. Morgan Stanley initiated coverage on Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price for the company. Finally, Raymond James reduced their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and an average price target of $340.06.

Insider Activity

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’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 value of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares of the company’s stock, valued at $2,858,328. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’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 value of $96,721.20. Following the completion of the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at $2,858,328. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,511 shares of company stock valued at $15,809,326 in the last three months. 0.53% of the stock is currently owned by company insiders.

Eaton Company 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.