Angeles Wealth Management LLC Lowers Stock Position in Eaton Co. plc (NYSE:ETN)

Angeles Wealth Management LLC trimmed its position in Eaton Co. plc (NYSE:ETN) by 6.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,055 shares of the industrial products company’s stock after selling 71 shares during the quarter. Angeles Wealth Management LLC’s holdings in Eaton were worth $350,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ETN. Diversify Advisory Services LLC bought a new stake in Eaton during the first quarter valued at about $371,000. Proficio Capital Partners LLC raised its position in shares of Eaton by 10.3% during the first quarter. Proficio Capital Partners LLC now owns 2,031 shares of the industrial products company’s stock valued at $635,000 after buying an additional 190 shares during the last quarter. United Community Bank lifted its holdings in shares of Eaton by 9.8% in the first quarter. United Community Bank now owns 13,726 shares of the industrial products company’s stock worth $4,194,000 after buying an additional 1,223 shares in the last quarter. Wellington Shields & Co. LLC boosted its position in shares of Eaton by 3.8% during the first quarter. Wellington Shields & Co. LLC now owns 1,375 shares of the industrial products company’s stock worth $430,000 after acquiring an additional 50 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in Eaton by 24.5% during the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 1,791 shares of the industrial products company’s stock valued at $560,000 after acquiring an additional 352 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 9,900 shares in the company, 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 through the SEC website. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karenann K. Terrell purchased 500 shares of Eaton stock in a transaction dated Wednesday, August 21st. The stock was acquired at an average price of $298.97 per share, with a total value of $149,485.00. Following the acquisition, the director now owns 500 shares in the company, valued at approximately $149,485. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 52,511 shares of company stock valued at $15,809,326. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

ETN has been the subject of several research reports. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Mizuho raised their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday. 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 report on Monday, October 7th. Jefferies Financial Group raised their target price on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $374.00 price target on shares of Eaton in a research note on Friday. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $341.00.

Eaton Price Performance

Shares of ETN stock opened at $335.00 on Monday. The stock has a 50 day moving average price of $323.09 and a 200 day moving average price of $318.36. Eaton Co. plc has a 52-week low of $211.99 and a 52-week high of $349.74. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.07 and a current ratio of 1.53. The firm has a market capitalization of $133.36 billion, a P/E ratio of 35.64, a P/E/G ratio of 2.53 and a beta of 1.01.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $2.47 earnings per share. As a group, sell-side analysts predict that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders 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 1.12%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

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.