Hantz Financial Services Inc. Makes New $7.83 Million Investment in Eaton Co. plc (NYSE:ETN)

Hantz Financial Services Inc. purchased a new stake in Eaton Co. plc (NYSE:ETN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,960 shares of the industrial products company’s stock, valued at approximately $7,826,000.

Several other large investors have also modified their holdings of ETN. Choreo LLC raised its stake in Eaton by 95.6% during the fourth quarter. Choreo LLC now owns 3,873 shares of the industrial products company’s stock worth $933,000 after purchasing an additional 1,893 shares during the period. Mission Wealth Management LP grew its position in shares of Eaton by 9.3% during the 4th quarter. Mission Wealth Management LP now owns 4,306 shares of the industrial products company’s stock valued at $1,037,000 after buying an additional 366 shares during the last quarter. Savant Capital LLC boosted its stake in Eaton by 9.1% during the 4th quarter. Savant Capital LLC now owns 9,054 shares of the industrial products company’s stock valued at $2,180,000 after purchasing an additional 754 shares during the period. First Trust Direct Indexing L.P. boosted its stake in Eaton by 19.5% during the 4th quarter. First Trust Direct Indexing L.P. now owns 11,145 shares of the industrial products company’s stock valued at $2,684,000 after purchasing an additional 1,819 shares during the period. Finally, McIlrath & Eck LLC boosted its stake in Eaton by 27.1% during the 4th quarter. McIlrath & Eck LLC now owns 267 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 57 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ETN has been the subject of several recent research reports. Jefferies Financial Group increased their target price on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Royal Bank of Canada dropped their price objective on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Barclays upped their price objective on shares of Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Evercore ISI dropped their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Finally, Wells Fargo & Company dropped their price target on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $328.00.

Eaton Stock Up 1.9 %

Shares of NYSE ETN opened at $306.93 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The company has a market cap of $122.71 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 2.47 and a beta of 1.02. Eaton Co. plc has a 12 month low of $191.82 and a 12 month high of $345.19. The stock has a 50-day moving average price of $305.11 and a two-hundred day moving average price of $310.40.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping 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. As a group, analysts forecast that Eaton Co. plc will post 10.66 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Monday, August 5th. Eaton’s payout ratio is currently 44.39%.

Insider Activity at Eaton

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the sale, the insider now owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The disclosure for this sale can be found here. In the last three months, insiders sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is owned by insiders.

About Eaton

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.