Marks Group Wealth Management Inc lifted its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 11.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,914 shares of the industrial products company's stock after purchasing an additional 3,070 shares during the quarter. Eaton comprises about 0.9% of Marks Group Wealth Management Inc's investment portfolio, making the stock its 17th largest position. Marks Group Wealth Management Inc's holdings in Eaton were worth $9,915,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also made changes to their positions in the stock. IAM Advisory LLC purchased a new position in Eaton in the second quarter valued at about $599,000. Envestnet Portfolio Solutions Inc. increased its stake in Eaton by 19.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company's stock valued at $24,616,000 after purchasing an additional 12,689 shares in the last quarter. Interval Partners LP raised its holdings in Eaton by 82.7% during the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company's stock worth $47,571,000 after purchasing an additional 68,693 shares during the last quarter. Empowered Funds LLC boosted its position in Eaton by 302.4% during the first quarter. Empowered Funds LLC now owns 23,273 shares of the industrial products company's stock worth $7,277,000 after purchasing an additional 17,490 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its holdings in Eaton by 40.6% in the first quarter. Avantax Advisory Services Inc. now owns 19,513 shares of the industrial products company's stock valued at $6,101,000 after purchasing an additional 5,634 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.
In related news, Director Dorothy C. Thompson acquired 2,205 shares of Eaton stock in a transaction on Tuesday, September 3rd. The shares were bought 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 $662,161.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Dorothy C. Thompson bought 2,205 shares of Eaton stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of the business's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the transaction, the insider now 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. In the last three months, insiders sold 56,511 shares of company stock valued at $17,150,526. Company insiders own 0.33% of the company's stock.
ETN stock opened at $337.59 on Wednesday. Eaton Co. plc has a 52 week low of $211.99 and a 52 week high of $349.74. The company has a market cap of $133.42 billion, a price-to-earnings ratio of 35.91, a PEG ratio of 2.55 and a beta of 1.01. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The business has a fifty day simple moving average of $324.60 and a 200-day simple moving average of $318.76.
Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the business posted $2.47 EPS. The company'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 10.78 EPS for the current year.
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. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.11%. Eaton's payout ratio is 40.00%.
Several research analysts have recently issued reports on the company. Sanford C. Bernstein initiated coverage on Eaton in a research note on Tuesday. They set an "outperform" rating and a $382.00 price target for the company. Raymond James lowered their price target on shares of Eaton from $375.00 to $365.00 and set an "outperform" rating on the stock in a research report on Monday, September 9th. Morgan Stanley initiated coverage on Eaton in a research report on Friday, September 6th. They set an "overweight" rating and a $370.00 price objective for the company. Wolfe Research upgraded Eaton from an "underperform" rating to a "peer perform" rating in a report on Friday, September 6th. Finally, Mizuho boosted their price target on Eaton from $365.00 to $385.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $343.28.
Read Our Latest Report on ETN
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.
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