Legacy Wealth Management LLC MS Has $297,000 Stock Holdings in Eaton Co. plc (NYSE:ETN)

Legacy Wealth Management LLC MS reduced its position in shares of Eaton Co. plc (NYSE:ETN) by 23.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 894 shares of the industrial products company’s stock after selling 267 shares during the period. Legacy Wealth Management LLC MS’s holdings in Eaton were worth $297,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ETN. B. Riley Wealth Advisors Inc. increased its stake in shares of Eaton by 48.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after purchasing an additional 13,497 shares during the period. Interval Partners LP increased its position in Eaton by 82.7% in the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after buying an additional 68,693 shares during the period. Scientech Research LLC lifted its holdings in shares of Eaton by 285.5% during the second quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock worth $1,801,000 after buying an additional 4,254 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in shares of Eaton in the third quarter valued at approximately $1,160,000. Finally, Heritage Wealth Management Inc. acquired a new stake in shares of Eaton in the second quarter worth $3,263,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on ETN shares. Jefferies Financial Group raised their price target on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Wells Fargo & Company boosted their price target on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Bank of America upped their price target on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Sanford C. Bernstein assumed coverage on Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective on the stock. Finally, Mizuho upped their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $368.83.

Insider Transactions at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction dated 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 owns 31,200 shares in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,981 shares of company stock worth $27,660,117. Corporate insiders own 0.53% of the company’s stock.

Eaton Price Performance

Eaton stock traded up $9.48 during trading hours on Monday, hitting $352.06. 348,562 shares of the stock were exchanged, compared to its average volume of 1,436,220. Eaton Co. plc has a 12 month low of $234.20 and a 12 month high of $379.99. The business’s 50-day moving average is $354.67 and its two-hundred day moving average is $328.11. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The stock has a market capitalization of $139.13 billion, a P/E ratio of 37.45, a P/E/G ratio of 2.74 and a beta of 1.03.

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

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.07%. The ex-dividend date was Monday, November 4th. 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.