1,147 Shares in Eaton Co. plc (NYSE:ETN) Bought by Thrive Wealth Management LLC

Thrive Wealth Management LLC bought a new stake in shares of Eaton Co. plc (NYSE:ETN) in the 2nd quarter, Holdings Channel reports. The fund bought 1,147 shares of the industrial products company’s stock, valued at approximately $231,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ETN. RB Capital Management LLC raised its stake in shares of Eaton by 3.5% in the 1st quarter. RB Capital Management LLC now owns 2,759 shares of the industrial products company’s stock valued at $419,000 after purchasing an additional 94 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in Eaton by 74.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 101,412 shares of the industrial products company’s stock worth $15,390,000 after buying an additional 43,381 shares during the last quarter. Baird Financial Group Inc. grew its position in shares of Eaton by 0.6% in the 1st quarter. Baird Financial Group Inc. now owns 374,204 shares of the industrial products company’s stock worth $56,790,000 after acquiring an additional 2,057 shares in the last quarter. Mather Group LLC. increased its holdings in shares of Eaton by 9.1% in the 1st quarter. Mather Group LLC. now owns 2,682 shares of the industrial products company’s stock valued at $407,000 after acquiring an additional 223 shares during the last quarter. Finally, Ergoteles LLC acquired a new stake in shares of Eaton during the 1st quarter valued at approximately $1,188,000. 81.02% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Craig Arnold sold 100,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 516,875 shares of the company’s stock, valued at $113,428,218.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Craig Arnold sold 100,000 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $219.45, for a total transaction of $21,945,000.00. Following the sale, the insider now directly owns 516,875 shares of the company’s stock, valued at $113,428,218.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Taras G. Jr. Szmagala sold 1,869 shares of the stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $226.68, for a total value of $423,664.92. Following the completion of the transaction, the insider now owns 7,431 shares of the company’s stock, valued at approximately $1,684,459.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 116,650 shares of company stock worth $25,686,391. Corporate insiders own 0.53% of the company’s stock.

Eaton Trading Up 0.7 %

Eaton stock opened at $219.15 on Tuesday. Eaton Co. plc has a 12-month low of $129.85 and a 12-month high of $240.44. The stock has a market capitalization of $87.44 billion, a PE ratio of 32.37, a price-to-earnings-growth ratio of 2.13 and a beta of 1.11. The firm has a 50 day simple moving average of $217.52 and a 200-day simple moving average of $190.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.53 and a quick ratio of 0.99.

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

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 7th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Friday, August 4th. Eaton’s payout ratio is 50.81%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ETN shares. Argus lifted their price objective on shares of Eaton from $195.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. StockNews.com started coverage on shares of Eaton in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Mizuho lifted their target price on Eaton from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. JPMorgan Chase & Co. increased their price target on Eaton from $178.00 to $185.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 2nd. Finally, Wells Fargo & Company boosted their price target on shares of Eaton from $180.00 to $195.00 in a report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $211.93.

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.