Smith Salley Wealth Management Acquires 317 Shares of Eaton Co. plc (NYSE:ETN)

Smith Salley Wealth Management lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 2.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 15,251 shares of the industrial products company’s stock after buying an additional 317 shares during the quarter. Smith Salley Wealth Management’s holdings in Eaton were worth $5,055,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Brookstone Capital Management lifted its holdings in Eaton by 15.5% during the 1st quarter. Brookstone Capital Management now owns 1,375 shares of the industrial products company’s stock worth $430,000 after purchasing an additional 185 shares during the last quarter. Capital Asset Advisory Services LLC acquired a new stake in shares of Eaton during the first quarter worth $215,000. Hennion & Walsh Asset Management Inc. boosted its position in shares of Eaton by 36.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 1,450 shares of the industrial products company’s stock valued at $453,000 after acquiring an additional 384 shares during the period. Vicus Capital bought a new position in Eaton during the first quarter worth about $395,000. Finally, Symphony Financial Ltd. Co. raised its stake in Eaton by 3.8% in the 1st quarter. Symphony Financial Ltd. Co. now owns 1,589 shares of the industrial products company’s stock worth $497,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Shares of ETN opened at $344.49 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The stock has a market cap of $137.14 billion, a PE ratio of 37.90, a PEG ratio of 2.62 and a beta of 1.02. Eaton Co. plc has a 12-month low of $193.77 and a 12-month high of $349.74. The business has a 50-day simple moving average of $318.89 and a two-hundred day simple moving average of $317.47.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. Analysts anticipate that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. Eaton’s payout ratio is 41.36%.

Insider Buying and Selling

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the 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 sale, the insider now owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton 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 of the company’s stock, valued at $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the sale, the insider now owns 71,262 shares in the company, valued at approximately $21,451,287.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock valued at $15,809,326 in the last three months. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Evercore ISI decreased their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Wells Fargo & Company raised their price target on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Mizuho upped their price objective on shares of Eaton from $355.00 to $365.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Royal Bank of Canada decreased their target price on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Jefferies Financial Group upped their price target on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $340.06.

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.