Independent Solutions Wealth Management LLC Sells 552 Shares of Eaton Co. plc (NYSE:ETN)

Independent Solutions Wealth Management LLC decreased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,505 shares of the industrial products company’s stock after selling 552 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Eaton were worth $3,482,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ETN. Breakwater Investment Management increased its position 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 in the last quarter. Groupama Asset Managment increased its holdings in Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 4,298 shares in the last quarter. LGT Financial Advisors LLC bought a new position in Eaton in the 2nd quarter valued at $33,000. Morse Asset Management Inc bought a new stake in shares of Eaton during the third quarter worth $33,000. Finally, West Financial Advisors LLC acquired a new position in shares of Eaton during the third quarter worth approximately $35,000. 82.97% of the stock is currently owned by institutional investors.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares in the company, valued at $17,241,796.60. This represents a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Craig Arnold sold 61,569 shares of Eaton 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 completion of the sale, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,981 shares of company stock worth $27,660,117. Corporate insiders own 0.33% of the company’s stock.

Eaton Stock Up 0.6 %

Shares of NYSE ETN traded up $1.99 during mid-day trading on Thursday, reaching $337.11. 1,206,562 shares of the company’s stock traded hands, compared to its average volume of 2,079,834. 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 1-year low of $231.84 and a 1-year high of $379.99. The stock has a market cap of $133.23 billion, a P/E ratio of 35.86, a PEG ratio of 2.74 and a beta of 1.03. The business has a 50-day simple moving average of $356.37 and a 200 day simple moving average of $326.88.

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

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were given a dividend of $0.94 per share. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.12%. Eaton’s dividend payout ratio is presently 40.00%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ETN. Morgan Stanley began coverage on Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Bank of America increased their target price on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and set a $374.00 price target on shares of Eaton 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. Finally, UBS Group assumed coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $367.83.

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.