von Borstel & Associates Inc. Takes Position in Eaton Co. plc (NYSE:ETN)

von Borstel & Associates Inc. bought a new stake in Eaton Co. plc (NYSE:ETN) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 651 shares of the industrial products company’s stock, valued at approximately $215,000.

A number of other large investors have also added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new stake in Eaton during the 4th quarter valued at approximately $64,000. Fisher Asset Management LLC boosted its stake in Eaton by 3.3% during the 4th quarter. Fisher Asset Management LLC now owns 186,307 shares of the industrial products company’s stock valued at $44,867,000 after acquiring an additional 5,973 shares during the last quarter. SageView Advisory Group LLC grew its holdings in Eaton by 148.6% during the 4th quarter. SageView Advisory Group LLC now owns 6,759 shares of the industrial products company’s stock worth $1,692,000 after acquiring an additional 4,040 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in Eaton in the fourth quarter valued at about $207,000. Finally, Leo Wealth LLC bought a new stake in Eaton in the fourth quarter valued at about $323,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Eaton

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the transaction, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, Director Dorothy C. Thompson bought 2,205 shares of Eaton stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the transaction, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael Yelton sold 3,136 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the transaction, the insider now directly owns 3,914 shares in the company, valued at $1,186,411.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,511 shares of company stock worth $15,809,326 over the last ninety days. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Performance

Shares of Eaton stock traded down $7.61 on Tuesday, reaching $338.00. The stock had a trading volume of 1,414,251 shares, compared to its average volume of 2,125,528. Eaton Co. plc has a fifty-two week low of $191.82 and a fifty-two week high of $347.35. The business’s 50-day moving average price is $309.18 and its two-hundred day moving average price is $315.84. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The stock has a market cap of $135.13 billion, a P/E ratio of 40.84, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 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 business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. On average, sell-side analysts forecast that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s dividend payout ratio is currently 44.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Barclays boosted their price target on Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Raymond James dropped their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Citigroup initiated coverage on Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 price target on the stock. Finally, Jefferies Financial Group increased their target price on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $339.47.

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.