OneDigital Investment Advisors LLC Raises Stock Holdings in Eaton Co. plc (NYSE:ETN)

OneDigital Investment Advisors LLC boosted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,309 shares of the industrial products company’s stock after purchasing an additional 305 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Eaton were worth $2,422,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legal & General Group Plc increased its position in shares of Eaton by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock worth $1,005,317,000 after purchasing an additional 18,077 shares during the last quarter. Capital World Investors increased its holdings in Eaton by 323.8% in the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after buying an additional 2,439,270 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Eaton by 2.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,422,189 shares of the industrial products company’s stock valued at $471,370,000 after buying an additional 40,078 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Eaton by 15.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock worth $412,108,000 after buying an additional 176,571 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after acquiring an additional 1,070,024 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Stock Performance

Shares of ETN stock opened at $358.99 on Friday. The stock’s fifty day simple moving average is $335.82 and its 200-day simple moving average is $321.37. The company has a market capitalization of $141.87 billion, a price-to-earnings ratio of 38.19, a P/E/G ratio of 2.96 and a beta of 1.01. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 1-year low of $224.52 and a 1-year high of $373.49.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same period in the prior year, the firm earned $2.47 earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ETN shares. Sanford C. Bernstein assumed coverage on Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and set a $374.00 price objective on shares of Eaton in a research note on Friday, November 1st. Raymond James dropped their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Citigroup assumed coverage on Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price target for the company. Finally, Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and upped their price objective for the stock from $333.00 to $389.00 in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $357.83.

Insider Buying and Selling

In other Eaton news, Director Karenann K. Terrell bought 500 shares of Eaton stock in a transaction on Wednesday, August 21st. The stock was purchased 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 directly owns 500 shares of the company’s stock, valued at $149,485. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,705 shares of company stock worth $24,516,346. Corporate insiders own 0.53% of the company’s stock.

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.