Xcel Wealth Management LLC Takes Position in Eaton Co. plc (NYSE:ETN)

Xcel Wealth Management LLC acquired a new stake in Eaton Co. plc (NYSE:ETN) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 616 shares of the industrial products company’s stock, valued at approximately $204,000.

Other institutional investors have also made changes to their positions in the company. Norden Group LLC bought a new position in shares of Eaton in the 1st quarter valued at approximately $2,176,000. Griffin Asset Management Inc. bought a new position in shares of Eaton in the 1st quarter valued at approximately $813,000. IAM Advisory LLC bought a new position in shares of Eaton in the 2nd quarter valued at approximately $599,000. Envestnet Portfolio Solutions Inc. increased its position 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 worth $24,616,000 after buying an additional 12,689 shares during the period. Finally, Interval Partners LP increased its position in Eaton by 82.7% in the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after buying an additional 68,693 shares during the period. 82.97% of the stock is owned by institutional investors.

Insider Transactions at Eaton

In other news, Director Dorothy C. Thompson bought 2,205 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price 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 acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 71,262 shares in the company, valued at approximately $21,451,287.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Dorothy C. Thompson acquired 2,205 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The disclosure for this purchase can be found here. Insiders sold a total of 52,511 shares of company stock worth $15,809,326 over the last 90 days. 0.53% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wells Fargo & Company lifted 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. Citigroup began coverage on Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 price target on the stock. Jefferies Financial Group boosted their price objective on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Morgan Stanley began coverage on Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective on the stock. Finally, Mizuho boosted their price objective on Eaton from $355.00 to $365.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.06.

Eaton Price Performance

Eaton stock traded down $3.21 on Tuesday, reaching $343.86. The company’s stock had a trading volume of 486,631 shares, compared to its average volume of 2,101,780. 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 cap of $137.48 billion, a price-to-earnings ratio of 40.77, a PEG ratio of 2.58 and a beta of 1.02. The business’s fifty day moving average price is $315.18 and its 200 day moving average price is $316.83. Eaton Co. plc has a twelve month low of $193.26 and a twelve month high of $349.74.

Eaton (NYSE:ETN) last released its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. The company 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%. Equities analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently announced 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. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. Eaton’s payout ratio is currently 44.39%.

Eaton 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.