Adell Harriman & Carpenter Inc. Boosts Stock Holdings in Eaton Co. plc (NYSE:ETN)

Adell Harriman & Carpenter Inc. boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 12.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,121 shares of the industrial products company’s stock after buying an additional 6,108 shares during the quarter. Eaton makes up 1.4% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 20th biggest position. Adell Harriman & Carpenter Inc.’s holdings in Eaton were worth $18,601,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avitas Wealth Management LLC grew its position in shares of Eaton by 1.4% during the 3rd quarter. Avitas Wealth Management LLC now owns 28,585 shares of the industrial products company’s stock valued at $9,474,000 after acquiring an additional 406 shares during the period. Childress Capital Advisors LLC increased its position in shares of Eaton by 11.7% in the third quarter. Childress Capital Advisors LLC now owns 909 shares of the industrial products company’s stock valued at $301,000 after buying an additional 95 shares in the last quarter. Nicholas Hoffman & Company LLC. raised its stake in shares of Eaton by 3.1% during the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,432 shares of the industrial products company’s stock worth $475,000 after buying an additional 43 shares during the period. Deltec Asset Management LLC purchased a new position in shares of Eaton during the 3rd quarter valued at approximately $1,359,000. Finally, Vanguard Capital Wealth Advisors acquired a new stake in Eaton in the 3rd quarter valued at $224,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

NYSE ETN opened at $345.55 on Wednesday. The stock has a market cap of $137.56 billion, a PE ratio of 38.01, a P/E/G ratio of 2.62 and a beta of 1.02. Eaton Co. plc has a twelve month low of $196.12 and a twelve month high of $349.74. The stock has a fifty day simple moving average of $320.85 and a 200-day simple moving average of $317.88. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share 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 analysts’ expectations of $6.35 billion. Equities analysts anticipate that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. Eaton’s dividend payout ratio is currently 41.36%.

Insider Activity

In related news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’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 in the company, valued at $2,858,328. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the sale, the insider now directly owns 71,262 shares in the company, valued at $21,451,287.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,511 shares of company stock valued at $15,809,326. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ETN has been the topic of several recent analyst reports. Barclays increased their price objective on shares of Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Evercore ISI cut their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Wells Fargo & Company raised their target price on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Raymond James lowered their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.