Hoxton Planning & Management LLC Acquires Shares of 815 Eaton Co. plc (NYSE:ETN)

Hoxton Planning & Management LLC bought a new position in shares of Eaton Co. plc (NYSE:ETN) during the 3rd quarter, HoldingsChannel reports. The fund bought 815 shares of the industrial products company’s stock, valued at approximately $270,000.

A number of other large investors have also made changes to their positions in the stock. Breakwater Investment Management increased its stake in shares of Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 78 shares during the last quarter. Atwood & Palmer Inc. increased its position in Eaton by 142.9% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 50 shares during the last quarter. Proffitt & Goodson Inc. purchased a new position in Eaton during the second quarter worth about $29,000. Redmont Wealth Advisors LLC acquired a new position in Eaton in the 1st quarter valued at about $33,000. Finally, LGT Financial Advisors LLC purchased a new stake in shares of Eaton in the 2nd quarter valued at approximately $33,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ETN has been the subject of several analyst reports. Jefferies Financial Group increased their price objective on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Evercore ISI lowered their price target on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Wells Fargo & Company boosted their price objective on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Morgan Stanley assumed coverage on shares of Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $339.47.

Insiders Place Their Bets

In other Eaton news, Director Dorothy C. Thompson bought 2,205 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Dorothy C. Thompson bought 2,205 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael Yelton sold 3,136 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,511 shares of company stock valued at $15,809,326 in the last ninety days. Insiders own 0.53% of the company’s stock.

Eaton Stock Performance

Shares of ETN opened at $338.25 on Thursday. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19. The stock has a market capitalization of $135.23 billion, a PE ratio of 39.94, a PEG ratio of 2.53 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. The stock has a 50-day simple moving average of $305.05 and a 200-day simple moving average of $315.05.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (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 company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. On average, analysts predict that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio is presently 44.39%.

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.