Buckley Wealth Management LLC Increases Stock Position in Eaton Co. plc (NYSE:ETN)

Buckley Wealth Management LLC grew its holdings in Eaton Co. plc (NYSE:ETN) by 1.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,020 shares of the industrial products company’s stock after buying an additional 45 shares during the quarter. Buckley Wealth Management LLC’s holdings in Eaton were worth $1,332,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Breakwater Investment Management grew its stake in shares of Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares during the period. Proffitt & Goodson Inc. acquired a new stake in shares of Eaton during the 2nd quarter valued at approximately $29,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Eaton during the 1st quarter worth approximately $33,000. LGT Financial Advisors LLC purchased a new position in Eaton in the 2nd quarter valued at approximately $33,000. Finally, West Financial Advisors LLC acquired a new position in Eaton during the third quarter worth $35,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Eaton

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the sale, the insider now owns 9,900 shares in the company, valued at $2,858,328. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the transaction, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at $2,858,328. This trade represents 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 have sold 52,511 shares of company stock valued at $15,809,326. Insiders own 0.53% of the company’s stock.

Eaton Stock Down 0.1 %

Shares of ETN stock traded down $0.31 during trading hours on Friday, reaching $348.18. The company had a trading volume of 1,173,441 shares, compared to its average volume of 2,114,890. The stock’s fifty day simple moving average is $314.01 and its 200 day simple moving average is $316.68. The company has a market capitalization of $139.20 billion, a P/E ratio of 41.11, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $349.74.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.35 billion. As a group, sell-side analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s payout ratio is currently 44.39%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Wells Fargo & Company upped their target price on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Jefferies Financial Group boosted their price objective on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Citigroup started coverage on Eaton in a report on Monday, September 16th. They set a “buy” rating and a $348.00 price objective on the stock. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average price target of $340.06.

Eaton Company 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.