Eaton Co. plc (NYSE:ETN) Shares Purchased by Equitable Trust Co.

Equitable Trust Co. raised its position in Eaton Co. plc (NYSE:ETN) by 42.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,497 shares of the industrial products company’s stock after purchasing an additional 445 shares during the period. Equitable Trust Co.’s holdings in Eaton were worth $496,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Strategic Wealth Partners Ltd. boosted its position in Eaton by 3.0% during the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after acquiring an additional 30 shares during the last quarter. Fairfield Financial Advisors LTD boosted its holdings in shares of Eaton by 16.2% during the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 30 shares during the last quarter. Legacy Capital Group California Inc. grew its position in shares of Eaton by 1.2% in the second quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock valued at $870,000 after purchasing an additional 32 shares during the period. Well Done LLC increased its stake in Eaton by 1.3% in the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock valued at $800,000 after purchasing an additional 33 shares during the last quarter. Finally, Austin Private Wealth LLC lifted its position in Eaton by 3.7% during the third quarter. Austin Private Wealth LLC now owns 929 shares of the industrial products company’s stock worth $308,000 after buying an additional 33 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Up 1.7 %

ETN opened at $366.67 on Monday. The firm has a market capitalization of $144.91 billion, a P/E ratio of 39.01, a P/E/G ratio of 2.88 and a beta of 1.01. The firm’s 50 day moving average is $328.30 and its 200-day moving average is $319.79. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 52-week low of $217.61 and a 52-week high of $369.29.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion for 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 was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.47 EPS. Analysts expect that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.03%. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Insiders Place Their Bets

In other news, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction that occurred on 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 approximately $182,780,769.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the sale, the insider now owns 71,262 shares in the company, valued at approximately $21,451,287.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 117,745 shares of company stock worth $39,278,367 in the last three months. 0.53% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on ETN. Citigroup initiated coverage on shares of Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 price objective for the company. Barclays dropped their price target on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Wells Fargo & Company lifted their price target 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. Mizuho upped their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Raymond James reduced their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $343.28.

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.