Outlook Wealth Advisors LLC Buys New Shares in Eaton Co. plc (NYSE:ETN)

Outlook Wealth Advisors LLC purchased a new stake in Eaton Co. plc (NYSE:ETN) in the 2nd quarter, Holdings Channel reports. The firm purchased 1,262 shares of the industrial products company’s stock, valued at approximately $254,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Journey Advisory Group LLC increased its position in Eaton by 2.8% during the first quarter. Journey Advisory Group LLC now owns 4,807 shares of the industrial products company’s stock worth $824,000 after purchasing an additional 133 shares during the last quarter. MQS Management LLC acquired a new stake in shares of Eaton during the 1st quarter worth $384,000. Shelton Capital Management raised its position in shares of Eaton by 40.5% in the 1st quarter. Shelton Capital Management now owns 3,553 shares of the industrial products company’s stock worth $609,000 after buying an additional 1,024 shares during the period. Marshall Financial Group LLC grew its position in Eaton by 12.8% during the first quarter. Marshall Financial Group LLC now owns 2,967 shares of the industrial products company’s stock valued at $508,000 after acquiring an additional 337 shares during the period. Finally, Means Investment CO. Inc. increased its stake in Eaton by 2.4% during the first quarter. Means Investment CO. Inc. now owns 3,639 shares of the industrial products company’s stock worth $623,000 after acquiring an additional 84 shares during the last quarter. Institutional investors and hedge funds own 81.02% of the company’s stock.

Insiders Place Their Bets

In related news, insider Heath B. Monesmith sold 9,831 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $221.12, for a total transaction of $2,173,830.72. Following the completion of the sale, the insider now owns 57,217 shares of the company’s stock, valued at approximately $12,651,823.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Eaton news, insider Heath B. Monesmith sold 9,831 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $221.12, for a total value of $2,173,830.72. Following the sale, the insider now directly owns 57,217 shares of the company’s stock, valued at $12,651,823.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Craig Arnold sold 100,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $219.45, for a total transaction of $21,945,000.00. Following the transaction, the insider now directly owns 516,875 shares of the company’s stock, valued at approximately $113,428,218.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,650 shares of company stock valued at $25,686,391. Company insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ETN. Citigroup boosted their target price on Eaton from $190.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. StockNews.com initiated coverage on shares of Eaton in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. HSBC upped their price target on shares of Eaton from $161.00 to $210.00 and gave the stock a “hold” rating in a research report on Thursday, August 31st. JPMorgan Chase & Co. raised their price objective on Eaton from $178.00 to $185.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. Finally, Barclays increased their target price on Eaton from $170.00 to $198.00 and gave the company an “underweight” rating in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Eaton currently has a consensus rating of “Hold” and a consensus price target of $211.93.

Eaton Price Performance

ETN opened at $217.63 on Friday. The company has a market capitalization of $86.83 billion, a P/E ratio of 32.15, a PEG ratio of 2.17 and a beta of 1.11. The company has a 50-day moving average of $217.14 and a 200-day moving average of $189.77. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.99 and a current ratio of 1.53. Eaton Co. plc has a 1-year low of $129.85 and a 1-year high of $240.44.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.10. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.76 billion. Eaton had a return on equity of 19.06% and a net margin of 12.29%. Eaton’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.87 earnings per share. Equities analysts expect that Eaton Co. plc will post 8.81 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 7th were paid a dividend of $0.86 per share. The ex-dividend date was Friday, August 4th. This represents a $3.44 annualized dividend and a yield of 1.58%. Eaton’s payout ratio is 50.81%.

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.