Bill Few Associates Inc. Has $2.82 Million Holdings in Eaton Co. plc (NYSE:ETN)

Bill Few Associates Inc. boosted its stake in Eaton Co. plc (NYSE:ETN) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,510 shares of the industrial products company’s stock after purchasing an additional 222 shares during the quarter. Bill Few Associates Inc.’s holdings in Eaton were worth $2,820,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ETN. Capital World Investors raised its stake 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 purchasing an additional 2,439,270 shares in the last quarter. Jennison Associates LLC raised its stake in Eaton by 2,857.4% in the first quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock valued at $394,752,000 after purchasing an additional 1,219,790 shares in the last quarter. Swedbank AB bought a new position in Eaton in the second quarter valued at about $225,974,000. Assenagon Asset Management S.A. grew its position in Eaton by 1,604.4% in the second quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock valued at $211,201,000 after acquiring an additional 634,059 shares during the last quarter. Finally, Wulff Hansen & CO. grew its position in Eaton by 31,255.0% in the second quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock valued at $149,928,000 after acquiring an additional 476,639 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of recent analyst reports. Citigroup initiated coverage on Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 target price on the stock. Royal Bank of Canada decreased their target price on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Morgan Stanley assumed coverage on Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Barclays boosted their price target on Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and a consensus target price of $339.47.

Eaton Stock Down 2.2 %

Shares of NYSE:ETN opened at $338.04 on Wednesday. The company has a market capitalization of $135.15 billion, a PE ratio of 39.91, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. The business has a fifty day moving average price of $310.39 and a two-hundred day moving average price of $316.02. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $347.35.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. Analysts forecast that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Announces Dividend

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

Insider Buying and Selling

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the sale, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the purchase, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of the 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 transaction, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,511 shares of company stock valued at $15,809,326. 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.