Sax Wealth Advisors LLC Purchases 335 Shares of Eaton Co. plc (NYSE:ETN)

Sax Wealth Advisors LLC increased its position in Eaton Co. plc (NYSE:ETN) by 19.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,045 shares of the industrial products company’s stock after purchasing an additional 335 shares during the period. Sax Wealth Advisors LLC’s holdings in Eaton were worth $678,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ETN. Breakwater Investment Management lifted its stake in Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 78 shares during the period. Proffitt & Goodson Inc. purchased a new stake in shares of Eaton during the 2nd quarter valued at about $29,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Eaton during the 1st quarter valued at about $33,000. LGT Financial Advisors LLC purchased a new stake in shares of Eaton during the 2nd quarter valued at about $33,000. Finally, West Financial Advisors LLC purchased a new stake in shares of Eaton during the 3rd quarter valued at about $35,000. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

ETN has been the subject of several research reports. Morgan Stanley initiated coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price target for the company. Citigroup initiated coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price target for the company. Raymond James reduced their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Barclays increased their target price on shares of Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group increased their target price 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $340.06.

Eaton Stock Up 2.1 %

NYSE ETN opened at $348.33 on Friday. 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 company has a market capitalization of $139.26 billion, a P/E ratio of 41.13, a P/E/G ratio of 2.58 and a beta of 1.02. Eaton Co. plc has a one year low of $191.82 and a one year high of $349.74. The stock has a 50 day moving average price of $312.88 and a 200-day moving average price of $316.41.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. As a group, equities analysts predict that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a $0.94 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. Eaton’s dividend payout ratio is presently 44.39%.

Insider Buying and Selling

In related news, Director Dorothy C. Thompson purchased 2,205 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Eaton news, Director Dorothy C. Thompson bought 2,205 shares of Eaton stock in a transaction on Tuesday, September 3rd. The shares were 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Yelton sold 3,136 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the sale, the insider now owns 3,914 shares in the company, valued at approximately $1,186,411.68. 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 worth $15,809,326 over the last three months. 0.53% of the stock is owned by insiders.

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.