Buck Wealth Strategies LLC Sells 766 Shares of Eaton Co. plc (NYSE:ETN)

Buck Wealth Strategies LLC trimmed its position in Eaton Co. plc (NYSE:ETN) by 35.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,390 shares of the industrial products company’s stock after selling 766 shares during the period. Buck Wealth Strategies LLC’s holdings in Eaton were worth $460,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Breakwater Investment Management grew its position in 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 purchasing an additional 78 shares in the last quarter. Proffitt & Goodson Inc. bought a new position in shares of Eaton during the 2nd quarter valued at approximately $29,000. LGT Financial Advisors LLC bought a new position in shares of Eaton during the 2nd quarter valued at approximately $33,000. West Financial Advisors LLC bought a new position in shares of Eaton during the 3rd quarter valued at approximately $35,000. Finally, DT Investment Partners LLC bought a new position in shares of Eaton during the 3rd quarter valued at approximately $37,000. 82.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Eaton news, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 117,745 shares of company stock valued at $39,278,367 in the last quarter. Insiders own 0.33% of the company’s stock.

Eaton Stock Performance

Eaton stock opened at $369.05 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton Co. plc has a fifty-two week low of $220.24 and a fifty-two week high of $373.49. The firm’s fifty day moving average price is $329.60 and its 200-day moving average price is $320.18. The stock has a market cap of $145.85 billion, a P/E ratio of 39.26, a price-to-earnings-growth ratio of 2.98 and a beta of 1.01.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the firm earned $2.47 EPS. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ETN. Sanford C. Bernstein began coverage on shares of Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $374.00 price target on shares of Eaton in a research note on Friday, November 1st. Raymond James dropped their price target 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. Barclays dropped their price target on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Finally, Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $343.28.

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.