Maxwell Wealth Strategies Inc. Acquires 7,545 Shares of Eaton Co. plc (NYSE:ETN)

Maxwell Wealth Strategies Inc. lifted its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 51.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 22,088 shares of the industrial products company's stock after acquiring an additional 7,545 shares during the period. Eaton makes up approximately 3.2% of Maxwell Wealth Strategies Inc.'s investment portfolio, making the stock its 4th largest holding. Maxwell Wealth Strategies Inc.'s holdings in Eaton were worth $7,454,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ETN. Breakwater Investment Management grew its holdings in shares of Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company's stock valued at $26,000 after buying an additional 78 shares during the last quarter. Proffitt & Goodson Inc. purchased a new position in shares of Eaton in the second quarter worth about $29,000. LGT Financial Advisors LLC purchased a new stake in Eaton in the second quarter valued at approximately $33,000. West Financial Advisors LLC acquired a new position in Eaton in the 3rd quarter worth approximately $35,000. Finally, DiNuzzo Private Wealth Inc. purchased a new position in Eaton during the 2nd quarter worth approximately $37,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Craig Arnold sold 61,569 shares of the business's stock in a transaction that occurred 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 directly owns 506,360 shares of the company's stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karenann K. Terrell acquired 500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were bought at an average cost of $298.97 per share, with a total value of $149,485.00. Following the transaction, the director now directly owns 500 shares in the company, valued at $149,485. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold 68,705 shares of company stock valued at $24,516,346 over the last ninety days. Company insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ETN shares. Barclays reduced their target price on shares of Eaton from $327.00 to $320.00 and set an "equal weight" rating for the company in a report on Friday, November 1st. Raymond James dropped their target price on Eaton from $375.00 to $365.00 and set an "outperform" rating on the stock in a report on Monday, September 9th. UBS Group initiated coverage on Eaton in a report on Wednesday. They issued a "buy" rating and a $431.00 price target for the company. Morgan Stanley assumed coverage on shares of Eaton in a research note on Friday, September 6th. They set an "overweight" rating and a $370.00 price objective on the stock. Finally, Citigroup began coverage on shares of Eaton in a research note on Monday, September 16th. They issued a "buy" rating and a $348.00 target price for the company. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $357.83.

Eaton Price Performance

ETN traded down $2.87 on Friday, reaching $358.99. 2,232,026 shares of the company's stock were exchanged, compared to its average volume of 2,112,767. Eaton Co. plc has a twelve month low of $224.52 and a twelve month high of $373.49. The stock has a market cap of $141.87 billion, a PE ratio of 38.19, a P/E/G ratio of 2.96 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The stock's fifty day moving average price is $335.82 and its 200-day moving average price is $321.35.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business's revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.47 earnings per share. Sell-side analysts expect that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.05%. The ex-dividend date is Monday, November 4th. Eaton's payout ratio is currently 40.00%.

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.