Wintrust Investments LLC Acquires Shares of 2,523 Eaton Co. plc (NYSE:ETN)

Wintrust Investments LLC acquired a new stake in Eaton Co. plc (NYSE:ETN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,523 shares of the industrial products company’s stock, valued at approximately $507,000.

Several other large investors also recently added to or reduced their stakes in the stock. Journey Advisory Group LLC raised its holdings in shares of Eaton by 2.8% in the 1st quarter. Journey Advisory Group LLC now owns 4,807 shares of the industrial products company’s stock valued at $824,000 after purchasing an additional 133 shares in the last quarter. LMG Wealth Partners LLC raised its holdings in shares of Eaton by 3.4% in the 2nd quarter. LMG Wealth Partners LLC now owns 9,080 shares of the industrial products company’s stock valued at $1,826,000 after purchasing an additional 300 shares in the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of Eaton by 8.3% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 20,976 shares of the industrial products company’s stock valued at $4,218,000 after purchasing an additional 1,600 shares in the last quarter. Soltis Investment Advisors LLC raised its holdings in shares of Eaton by 12.9% in the 2nd quarter. Soltis Investment Advisors LLC now owns 1,721 shares of the industrial products company’s stock valued at $346,000 after purchasing an additional 197 shares in the last quarter. Finally, J.Safra Asset Management Corp raised its holdings in shares of Eaton by 6.2% in the 2nd quarter. J.Safra Asset Management Corp now owns 1,517 shares of the industrial products company’s stock valued at $305,000 after purchasing an additional 89 shares in the last quarter. 81.02% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Up 0.4 %

Shares of NYSE ETN opened at $227.81 on Friday. The company’s 50-day simple moving average is $213.10 and its 200-day simple moving average is $204.31. Eaton Co. plc has a 52-week low of $150.86 and a 52-week high of $240.44. The firm has a market cap of $90.96 billion, a price-to-earnings ratio of 30.50, a price-to-earnings-growth ratio of 2.18 and a beta of 1.07. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 0.44.

Eaton (NYSE:ETN) last announced its earnings results on Tuesday, October 31st. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.13. Eaton had a net margin of 13.24% and a return on equity of 19.49%. The business had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.89 billion. During the same quarter last year, the business earned $2.02 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities analysts predict that Eaton Co. plc will post 9.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Monday, November 6th will be paid a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Friday, November 3rd. Eaton’s dividend payout ratio is currently 46.05%.

Wall Street Analyst Weigh In

Several research firms recently commented on ETN. Argus boosted their price objective on shares of Eaton from $195.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Mizuho boosted their price objective on shares of Eaton from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Morgan Stanley boosted their price objective on shares of Eaton from $235.00 to $238.00 and gave the stock an “overweight” rating in a research note on Monday, September 25th. JPMorgan Chase & Co. upgraded shares of Eaton from a “neutral” rating to an “overweight” rating and set a $230.00 price objective for the company in a research note on Friday, October 6th. Finally, StockNews.com initiated coverage on shares of Eaton in a report on Thursday, October 5th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $219.23.

Insider Transactions at Eaton

In other news, insider Thomas B. Okray sold 4,950 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $231.09, for a total value of $1,143,895.50. Following the transaction, the insider now directly owns 7,367 shares of the company’s stock, valued at $1,702,440.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Eaton news, insider Thomas B. Okray sold 4,950 shares of Eaton stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $231.09, for a total transaction of $1,143,895.50. Following the transaction, the insider now directly owns 7,367 shares of the company’s stock, valued at $1,702,440.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Taras G. Jr. Szmagala sold 1,869 shares of Eaton stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $226.68, for a total transaction of $423,664.92. Following the sale, the insider now owns 7,431 shares of the company’s stock, valued at $1,684,459.08. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

About Eaton

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.