Catalyst Financial Partners LLC Acquires 36 Shares of Eaton Co. plc (NYSE:ETN)

by · The Markets Daily

Catalyst Financial Partners LLC increased its stake in shares of Eaton Co. plc (NYSE:ETN – Free Report) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,158 shares of the industrial products company’s stock after acquiring an additional 36 shares during the quarter. Catalyst Financial Partners LLC’s holdings in Eaton were worth $1,378,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Capital World Investors lifted its stake in shares of Eaton by 323.8% in the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after buying an additional 2,439,270 shares during the period. Jennison Associates LLC lifted its position in shares of Eaton by 2,857.4% in the 1st quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock worth $394,752,000 after acquiring an additional 1,219,790 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after purchasing an additional 1,070,024 shares in the last quarter. Swedbank AB acquired a new position in shares of Eaton in the second quarter valued at $225,974,000. Finally, Assenagon Asset Management S.A. lifted its position in Eaton by 1,604.4% in the second quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock worth $211,201,000 after purchasing an additional 634,059 shares during the period. 82.97% of the stock is owned by institutional investors.

Eaton Stock Performance

Eaton stock opened at $342.81 on Thursday. Eaton Co. plc has a 1 year low of $198.68 and a 1 year high of $349.74. The company’s 50-day moving average is $321.71 and its two-hundred day moving average is $318.06. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The company has a market cap of $136.47 billion, a PE ratio of 37.71, a PEG ratio of 2.62 and a beta of 1.02.

Eaton (NYSE:ETN – Get Free Report) last issued its 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. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Equities analysts anticipate that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s payout ratio is 41.36%.

Insider Buying and Selling at Eaton

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Karenann K. Terrell purchased 500 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were purchased at an average price of $298.97 per share, with a total value of $149,485.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at $149,485. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,511 shares of company stock valued at $15,809,326. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

ETN has been the subject of a number of recent research reports. Evercore ISI dropped their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Raymond James decreased their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Wells Fargo & Company raised their target price on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Barclays lifted their price objective on Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Mizuho increased their target price on shares of Eaton from $355.00 to $365.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $340.06.

Read Our Latest Report on Eaton

About Eaton

(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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