Private Advisor Group LLC Has $12.78 Million Position in Eaton Co. plc (NYSE:ETN)

Private Advisor Group LLC increased its position in shares of Eaton Co. plc (NYSE:ETN) by 16.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,564 shares of the industrial products company’s stock after acquiring an additional 5,508 shares during the period. Private Advisor Group LLC’s holdings in Eaton were worth $12,782,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Eastern Bank boosted its holdings in shares of Eaton by 131.3% in the 3rd quarter. Eastern Bank now owns 202,273 shares of the industrial products company’s stock valued at $67,041,000 after purchasing an additional 114,840 shares in the last quarter. Xcel Wealth Management LLC bought a new stake in shares of Eaton during the 3rd quarter worth $204,000. Sequoia Financial Advisors LLC boosted its stake in Eaton by 59.9% in the third quarter. Sequoia Financial Advisors LLC now owns 47,763 shares of the industrial products company’s stock valued at $15,831,000 after buying an additional 17,898 shares in the last quarter. Traphagen Investment Advisors LLC grew its position in Eaton by 5.7% in the third quarter. Traphagen Investment Advisors LLC now owns 1,982 shares of the industrial products company’s stock valued at $657,000 after acquiring an additional 107 shares during the last quarter. Finally, Calton & Associates Inc. raised its stake in Eaton by 63.7% during the third quarter. Calton & Associates Inc. now owns 1,264 shares of the industrial products company’s stock worth $419,000 after acquiring an additional 492 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Stock Performance

Shares of ETN opened at $345.17 on Friday. Eaton Co. plc has a one year low of $193.77 and a one year high of $349.74. The company has a market cap of $138.00 billion, a PE ratio of 40.75, a P/E/G ratio of 2.58 and a beta of 1.02. The stock has a 50-day moving average of $317.08 and a 200-day moving average of $317.12. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07.

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

Eaton Announces Dividend

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 $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is 44.39%.

Wall Street Analyst Weigh In

ETN has been the topic of several research reports. Raymond James decreased their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Wells Fargo & Company upped their price target on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Royal Bank of Canada cut their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, Evercore ISI cut their price target on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $340.06.

Insider Buying and Selling at Eaton

In related 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 $21,451,287.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction that occurred on 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 transaction, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Yelton sold 3,136 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at $1,186,411.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,511 shares of company stock valued at $15,809,326. Corporate insiders own 0.53% of the company’s stock.

Eaton Company 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.