Kestra Investment Management LLC Invests $613,000 in Eaton Co. plc (NYSE:ETN)

Kestra Investment Management LLC purchased a new stake in Eaton Co. plc (NYSE:ETN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,850 shares of the industrial products company’s stock, valued at approximately $613,000.

Other institutional investors also recently bought and sold shares of the company. Bank & Trust Co acquired a new position in Eaton in the second quarter valued at approximately $86,000. Fragasso Financial Advisors Inc raised its stake in Eaton by 4.0% during the 2nd quarter. Fragasso Financial Advisors Inc now owns 1,073 shares of the industrial products company’s stock worth $336,000 after acquiring an additional 41 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its position in Eaton by 24.3% in the second quarter. Kingswood Wealth Advisors LLC now owns 9,163 shares of the industrial products company’s stock valued at $2,873,000 after acquiring an additional 1,790 shares during the last quarter. CWM LLC boosted its stake in Eaton by 15.3% in the second quarter. CWM LLC now owns 16,811 shares of the industrial products company’s stock valued at $5,271,000 after acquiring an additional 2,228 shares in the last quarter. Finally, NovaPoint Capital LLC grew its holdings in shares of Eaton by 5.1% during the second quarter. NovaPoint Capital LLC now owns 3,983 shares of the industrial products company’s stock worth $1,249,000 after purchasing an additional 193 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Performance

Shares of ETN stock opened at $375.42 on Monday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 12-month low of $224.61 and a 12-month high of $379.99. The company has a market cap of $148.37 billion, a price-to-earnings ratio of 39.94, a price-to-earnings-growth ratio of 2.84 and a beta of 1.01. The stock has a 50 day simple moving average of $348.37 and a 200-day simple moving average of $324.41.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter last year, the company earned $2.47 earnings per share. Eaton’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities analysts forecast that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.00%. Eaton’s payout ratio is currently 40.00%.

Insider Buying and Selling at Eaton

In other news, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the acquisition, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,981 shares of company stock valued at $24,100,317. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on ETN shares. Barclays decreased their target price on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and upped their price target for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Raymond James lowered their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Finally, Sanford C. Bernstein assumed coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $357.83.

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.