HB Wealth Management LLC Has $4.31 Million Stake in Eaton Co. plc (NYSE:ETN)

HB Wealth Management LLC grew its position in Eaton Co. plc (NYSE:ETN - Free Report) by 31.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,758 shares of the industrial products company's stock after buying an additional 3,271 shares during the period. HB Wealth Management LLC's holdings in Eaton were worth $4,314,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ETN. Rosenberg Matthew Hamilton lifted its holdings in shares of Eaton by 17.4% in the second quarter. Rosenberg Matthew Hamilton now owns 966 shares of the industrial products company's stock valued at $302,000 after purchasing an additional 143 shares in the last quarter. Zimmermann Investment Management & Planning LLC bought a new stake in shares of Eaton in the second quarter worth $607,000. Kintegral Advisory LLC boosted its holdings in Eaton by 18.5% during the second quarter. Kintegral Advisory LLC now owns 5,478 shares of the industrial products company's stock worth $1,718,000 after purchasing an additional 857 shares during the last quarter. Breakwater Capital Group increased its stake in Eaton by 7.7% in the 2nd quarter. Breakwater Capital Group now owns 2,520 shares of the industrial products company's stock valued at $790,000 after buying an additional 180 shares during the last quarter. Finally, Worth Financial Advisory Group LLC lifted its position in Eaton by 61.5% during the 2nd quarter. Worth Financial Advisory Group LLC now owns 1,891 shares of the industrial products company's stock worth $593,000 after buying an additional 720 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Mizuho restated a "buy" rating and issued a $355.00 price objective (up previously from $340.00) on shares of Eaton in a report on Wednesday, May 1st. Royal Bank of Canada decreased their price target on Eaton from $376.00 to $371.00 and set an "outperform" rating for the company in a research note on Friday, August 2nd. Barclays upped their price objective on Eaton from $318.00 to $319.00 and gave the stock an "equal weight" rating in a research note on Friday, August 2nd. Evercore ISI decreased their target price on shares of Eaton from $357.00 to $333.00 and set an "outperform" rating for the company in a research note on Monday, August 19th. Finally, HSBC boosted their target price on shares of Eaton from $240.00 to $280.00 and gave the stock a "hold" rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $328.00.

Eaton Stock Performance

Eaton stock traded up $7.50 during trading hours on Thursday, hitting $301.10. The company had a trading volume of 2,426,534 shares, compared to its average volume of 2,168,179. Eaton Co. plc has a one year low of $191.82 and a one year high of $345.19. The firm has a market cap of $120.38 billion, a PE ratio of 35.55, a PEG ratio of 2.47 and a beta of 1.02. The firm has a 50-day moving average of $305.81 and a 200 day moving average of $310.23. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.05.

Eaton (NYSE:ETN - Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. On average, sell-side analysts expect that Eaton Co. plc will post 10.66 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a $0.94 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.25%. Eaton's dividend payout ratio (DPR) is presently 44.39%.

Insider Buying and Selling

In related news, Director Karenann K. Terrell purchased 500 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at approximately $149,485. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Heath B. Monesmith sold 49,040 shares of the firm'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 sale, the insider now directly owns 71,262 shares of the company's stock, valued at $21,451,287.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karenann K. Terrell purchased 500 shares of Eaton stock in a transaction dated Wednesday, August 21st. The stock was bought at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at approximately $149,485. The disclosure for this purchase can be found here. 0.53% of the stock is owned by insiders.

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.