Eaton Co. plc (NYSE:ETN) Shares Purchased by Lindbrook Capital LLC

Lindbrook Capital LLC boosted its holdings in Eaton Co. plc (NYSE:ETN) by 33.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,482 shares of the industrial products company’s stock after buying an additional 1,126 shares during the period. Lindbrook Capital LLC’s holdings in Eaton were worth $1,486,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc grew its holdings in Eaton by 0.6% in the second quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock valued at $1,005,317,000 after purchasing an additional 18,077 shares during the period. Capital World Investors grew its stake in shares of Eaton by 323.8% during the 1st 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 period. Janus Henderson Group PLC increased its holdings in shares of 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. International Assets Investment Management LLC boosted its holdings in Eaton by 27,075.5% in the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after acquiring an additional 1,070,024 shares during the last quarter. Finally, National Pension Service grew its position in Eaton by 13.0% during the third quarter. National Pension Service now owns 865,820 shares of the industrial products company’s stock valued at $286,967,000 after acquiring an additional 99,381 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ETN. Raymond James cut their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Mizuho raised their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $374.00 price objective on shares of Eaton in a research note on Friday, November 1st. Morgan Stanley assumed coverage on shares of Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price on the stock. Finally, Citigroup started coverage on Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 price target for the company. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $343.28.

Eaton Stock Performance

Eaton stock opened at $366.77 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The stock has a 50 day moving average of $328.30 and a 200-day moving average of $319.74. The stock has a market cap of $144.95 billion, a P/E ratio of 39.02, a price-to-earnings-growth ratio of 2.88 and a beta of 1.01. Eaton Co. plc has a 52 week low of $217.61 and a 52 week high of $369.29.

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

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s payout ratio is currently 40.00%.

Insiders Place Their Bets

In related news, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the transaction, the director now owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 118,080 shares of company stock valued at $39,375,088 in the last quarter. 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.