Stone Point Wealth LLC Has $385,000 Holdings in Eaton Co. plc (NYSE:ETN)

Stone Point Wealth LLC trimmed its position in shares of Eaton Co. plc (NYSE:ETN) by 7.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,161 shares of the industrial products company’s stock after selling 100 shares during the period. Stone Point Wealth LLC’s holdings in Eaton were worth $385,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc increased its stake in shares of Eaton by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock worth $1,005,317,000 after purchasing an additional 18,077 shares during the last quarter. Capital World Investors increased its position in Eaton by 323.8% during the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after buying an additional 2,439,270 shares during the last quarter. Janus Henderson Group PLC raised its stake in Eaton by 15.5% in the first quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock valued at $412,108,000 after buying an additional 176,571 shares during the period. International Assets Investment Management LLC lifted its position in shares of Eaton by 27,075.5% in the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after buying an additional 1,070,024 shares during the last quarter. Finally, National Pension Service boosted its stake in shares of Eaton by 13.0% during the 3rd quarter. National Pension Service now owns 865,820 shares of the industrial products company’s stock worth $286,967,000 after acquiring an additional 99,381 shares during the period. 82.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Eaton news, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the sale, the insider now owns 9,900 shares in the company, valued at $2,858,328. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 118,080 shares of company stock valued at $39,375,088 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Evercore ISI reduced their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Citigroup assumed coverage on Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 target price for the company. Jefferies Financial Group lifted their target price on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $374.00 target price on shares of Eaton in a research note on Friday, November 1st. Finally, Sanford C. Bernstein began coverage on Eaton in a research note on Tuesday. They set an “outperform” rating and a $382.00 target price for the company. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $343.28.

Eaton Price Performance

Shares of NYSE ETN opened at $360.58 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a fifty-two week low of $215.64 and a fifty-two week high of $366.08. The stock has a market capitalization of $142.50 billion, a PE ratio of 38.36, a P/E/G ratio of 2.66 and a beta of 1.01. The business has a fifty day moving average price of $325.92 and a two-hundred day moving average price of $319.05.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping 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 analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the firm earned $2.47 EPS. Eaton’s revenue was up 7.9% on a year-over-year basis. As a group, equities analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a $0.94 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.04%. Eaton’s payout ratio is presently 40.00%.

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.