Eaton Co. plc (NYSE:ETN) Shares Acquired by Capital Investment Advisors LLC

Capital Investment Advisors LLC raised its position in shares of Eaton Co. plc (NYSE:ETN) by 3.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,440 shares of the industrial products company’s stock after purchasing an additional 158 shares during the period. Capital Investment Advisors LLC’s holdings in Eaton were worth $1,803,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Breakwater Investment Management grew its holdings in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after buying an additional 78 shares in the last quarter. Proffitt & Goodson Inc. acquired a new position in Eaton during the 2nd quarter worth $29,000. LGT Financial Advisors LLC bought a new position in shares of Eaton in the second quarter worth $33,000. Redmont Wealth Advisors LLC acquired a new position in shares of Eaton during the first quarter valued at $33,000. Finally, West Financial Advisors LLC bought a new stake in shares of Eaton during the third quarter valued at about $35,000. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In other news, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction dated 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 sale, the insider now directly owns 71,262 shares in the company, valued at $21,451,287.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Heath B. Monesmith sold 49,040 shares of the firm’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 owns 71,262 shares in the company, valued at approximately $21,451,287.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dorothy C. Thompson purchased 2,205 shares of Eaton stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 52,511 shares of company stock valued at $15,809,326. Insiders own 0.53% of the company’s stock.

Eaton Stock Down 0.1 %

NYSE:ETN opened at $348.18 on Friday. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $349.74. The firm has a market capitalization of $139.20 billion, a price-to-earnings ratio of 41.11, a PEG ratio of 2.58 and a beta of 1.02. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The business’s fifty day moving average price is $314.01 and its 200 day moving average price is $316.68.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, topping the consensus estimate of $2.61 by $0.12. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. On average, sell-side analysts forecast that Eaton Co. plc will post 10.75 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. Investors of record on Monday, August 5th were issued a dividend of $0.94 per share. The ex-dividend date was Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. Eaton’s dividend payout ratio is 44.39%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Wells Fargo & Company increased their price objective on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Evercore ISI dropped their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Morgan Stanley assumed coverage on Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 price target for the company. Finally, Mizuho boosted their price objective on Eaton from $355.00 to $365.00 and gave the stock an “outperform” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $340.06.

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.