Carson Advisory Inc. Has $1.02 Million Holdings in Eaton Co. plc (NYSE:ETN)

Carson Advisory Inc. lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 3.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,241 shares of the industrial products company’s stock after purchasing an additional 120 shares during the period. Carson Advisory Inc.’s holdings in Eaton were worth $1,016,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ETN. LifeSteps Financial Inc. acquired a new position in Eaton during the 1st quarter worth $25,000. Atwood & Palmer Inc. raised its position in shares of 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 acquiring an additional 50 shares during the last quarter. Clear Investment Research LLC acquired a new position in shares of Eaton during the fourth quarter valued at $29,000. Proffitt & Goodson Inc. bought a new position in Eaton in the second quarter valued at about $29,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Eaton in the first quarter worth about $33,000. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Eaton

In other 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 transaction of $96,721.20. Following the completion of the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at $2,858,328. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares in the company, valued at $2,858,328. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dorothy C. Thompson purchased 2,205 shares of the stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the purchase, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. The disclosure for this purchase can be found here. Insiders have sold 52,511 shares of company stock valued at $15,809,326 in the last 90 days. 0.53% of the stock is currently owned by company insiders.

Eaton Price Performance

Shares of ETN opened at $288.30 on Wednesday. The stock has a 50 day simple moving average of $301.53 and a 200 day simple moving average of $311.47. Eaton Co. plc has a 52-week low of $191.82 and a 52-week high of $345.19. 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 firm has a market capitalization of $115.26 billion, a PE ratio of 34.04, a P/E/G ratio of 2.19 and a beta of 1.01.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $6.35 billion. Sell-side analysts predict that Eaton Co. plc will post 10.74 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Barclays upped their target price on shares of Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Wells Fargo & Company reduced their price objective on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada dropped their target price on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Morgan Stanley initiated coverage on Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Finally, Jefferies Financial Group upped their price objective on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $335.18.

About Eaton

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.