Xcel Wealth Management LLC Invests $204,000 in Eaton Co. plc (NYSE:ETN)

by · The Markets Daily

Xcel Wealth Management LLC acquired a new position in shares of Eaton Co. plc (NYSE:ETN – Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 616 shares of the industrial products company’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ETN. Northwest Investment Counselors LLC acquired a new stake in Eaton during the 1st quarter worth approximately $47,000. Global Assets Advisory LLC acquired a new stake in Eaton in the first quarter valued at approximately $8,976,000. Gilman Hill Asset Management LLC grew its position in Eaton by 5.5% in the first quarter. Gilman Hill Asset Management LLC now owns 1,924 shares of the industrial products company’s stock valued at $602,000 after acquiring an additional 100 shares in the last quarter. Mechanics Bank Trust Department acquired a new stake in Eaton in the first quarter valued at approximately $218,000. Finally, Affinity Capital Advisors LLC acquired a new stake in Eaton in the first quarter valued at approximately $251,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, insider Michael Yelton sold 3,136 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the transaction, the insider now owns 3,914 shares in the company, valued at $1,186,411.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Michael Yelton sold 3,136 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the transaction, the insider now owns 3,914 shares in the company, valued at $1,186,411.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dorothy C. Thompson purchased 2,205 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The disclosure for this purchase can be found here. Insiders have sold a total of 52,511 shares of company stock valued at $15,809,326 over the last three months. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

ETN has been the subject of several recent research reports. Citigroup initiated coverage on shares of Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective for the company. Jefferies Financial Group increased their target price on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Morgan Stanley began coverage on Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 target price for the company. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Mizuho increased their target price on Eaton from $355.00 to $365.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus price target of $340.06.

Get Our Latest Analysis on ETN

Eaton Stock Performance

Shares of ETN traded down $3.21 during trading hours on Tuesday, reaching $343.86. 486,631 shares of the company’s stock traded hands, compared to its average volume of 2,101,780. The firm has a market capitalization of $137.48 billion, a price-to-earnings ratio of 40.77, a P/E/G ratio of 2.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. Eaton Co. plc has a twelve month low of $193.26 and a twelve month high of $349.74. The business’s fifty day simple moving average is $315.18 and its two-hundred day simple moving average is $316.83.

Eaton (NYSE:ETN – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. Analysts predict that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. Eaton’s payout ratio is currently 44.39%.

Eaton Company Profile

(Free Report)

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.

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