Alpha Omega Wealth Management LLC Lowers Position in Eaton Co. plc (NYSE:ETN)

Alpha Omega Wealth Management LLC trimmed its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 8.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,982 shares of the industrial products company's stock after selling 1,818 shares during the quarter. Eaton accounts for approximately 1.2% of Alpha Omega Wealth Management LLC's portfolio, making the stock its 19th largest holding. Alpha Omega Wealth Management LLC's holdings in Eaton were worth $6,265,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. LifeSteps Financial Inc. purchased a new stake in Eaton in the 1st quarter valued at about $25,000. Atwood & Palmer Inc. increased its position in shares of Eaton by 142.9% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 50 shares during the last quarter. Proffitt & Goodson Inc. bought a new stake in Eaton during the second quarter worth $29,000. Redmont Wealth Advisors LLC purchased a new position in Eaton in the first quarter worth $33,000. Finally, Clear Investment Research LLC bought a new position in Eaton in the 4th quarter valued at $29,000. Institutional investors own 82.97% of the company's stock.

Insider Transactions at Eaton

In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at approximately $21,451,287.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the company's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the transaction, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the sale, the insider now directly owns 71,262 shares in the company, valued at approximately $21,451,287.24. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ETN. Royal Bank of Canada lowered their target price on Eaton from $376.00 to $371.00 and set an "outperform" rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on shares of Eaton from $279.00 to $325.00 and gave the company an "overweight" rating in a research note on Wednesday, May 1st. HSBC lifted their price target on shares of Eaton from $240.00 to $280.00 and gave the stock a "hold" rating in a report on Friday, May 3rd. Raymond James began coverage on Eaton in a report on Friday, June 28th. They set an "outperform" rating and a $375.00 price objective for the company. Finally, Argus boosted their target price on Eaton from $290.00 to $350.00 and gave the company a "buy" rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Eaton presently has a consensus rating of "Moderate Buy" and a consensus target price of $328.00.

Eaton Price Performance

Eaton stock traded down $3.09 during mid-day trading on Monday, hitting $296.91. 1,537,044 shares of the company traded hands, compared to its average volume of 2,169,749. The stock has a fifty day moving average price of $307.12 and a 200-day moving average price of $310.22. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.56. The stock has a market cap of $118.70 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 2.47 and a beta of 1.02. Eaton Co. plc has a one year low of $191.82 and a one year high of $345.19.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The firm had revenue of $6.35 billion for the quarter, compared to analysts' expectations of $6.35 billion. On average, equities analysts predict that Eaton Co. plc will post 10.66 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Monday, August 5th. Eaton's dividend payout ratio (DPR) is 44.39%.

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.

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