Clear Creek Financial Management LLC Buys 303 Shares of Eaton Co. plc (NYSE:ETN)

Clear Creek Financial Management LLC lifted its position in shares of Eaton Co. plc (NYSE:ETNFree Report) by 27.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,421 shares of the industrial products company’s stock after purchasing an additional 303 shares during the period. Clear Creek Financial Management LLC’s holdings in Eaton were worth $446,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Congress Wealth Management LLC DE boosted its stake in Eaton by 8.1% in the fourth quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company’s stock valued at $18,479,000 after acquiring an additional 5,725 shares during the last quarter. Norden Group LLC purchased a new stake in Eaton in the first quarter worth $2,176,000. Weiss Asset Management LP bought a new stake in shares of Eaton in the fourth quarter valued at $1,001,000. Prospector Partners LLC grew its stake in shares of Eaton by 0.6% during the 4th quarter. Prospector Partners LLC now owns 71,307 shares of the industrial products company’s stock worth $17,172,000 after acquiring an additional 415 shares during the period. Finally, Spire Wealth Management increased its holdings in Eaton by 66.0% in the 4th quarter. Spire Wealth Management now owns 14,914 shares of the industrial products company’s stock worth $3,648,000 after acquiring an additional 5,932 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Trading Up 0.8 %

NYSE:ETN traded up $2.31 during midday trading on Friday, reaching $300.00. 1,950,652 shares of the stock traded hands, compared to its average volume of 2,173,366. The stock has a market capitalization of $119.94 billion, a P/E ratio of 35.42, a PEG ratio of 2.47 and a beta of 1.02. 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 company has a fifty day moving average of $307.69 and a 200 day moving average of $309.79. Eaton Co. plc has a 12 month low of $191.82 and a 12 month high of $345.19.

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

Eaton Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend 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%.

Analyst Ratings Changes

ETN has been the topic of several recent research reports. Argus upped their price objective on shares of Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Mizuho reissued a “buy” rating and set a $355.00 target price (up previously from $340.00) on shares of Eaton in a report on Wednesday, May 1st. Evercore ISI dropped their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. HSBC boosted their price objective on Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Finally, Jefferies Financial Group raised their target price on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $328.00.

View Our Latest Research Report on Eaton

Insider Buying and Selling

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

Eaton Company Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Eaton (NYSE:ETN)

Receive News & Ratings for Eaton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton and related companies with MarketBeat.com's FREE daily email newsletter.