GSA Capital Partners LLP Takes $295,000 Position in Eaton Co. plc (NYSE:ETN)

GSA Capital Partners LLP acquired a new position in Eaton Co. plc (NYSE:ETN) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 890 shares of the industrial products company’s stock, valued at approximately $295,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Breakwater Investment Management grew its holdings in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after buying an additional 78 shares in the last quarter. Proffitt & Goodson Inc. bought a new position in Eaton in the 2nd quarter worth approximately $29,000. LGT Financial Advisors LLC bought a new position in Eaton in the 2nd quarter worth approximately $33,000. West Financial Advisors LLC bought a new position in Eaton in the 3rd quarter worth approximately $35,000. Finally, DT Investment Partners LLC bought a new position in Eaton in the 3rd quarter worth approximately $37,000. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

Shares of NYSE:ETN opened at $377.41 on Friday. The company’s fifty day moving average is $342.75 and its two-hundred day moving average is $323.00. 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 12-month low of $224.52 and a 12-month high of $378.00. The company has a market cap of $149.15 billion, a P/E ratio of 40.15, a price-to-earnings-growth ratio of 2.89 and a beta of 1.01.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the business earned $2.47 EPS. The company’s revenue was up 7.9% on a year-over-year basis. Equities analysts expect 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 was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Analyst Upgrades and Downgrades

ETN has been the subject of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $374.00 target price on shares of Eaton in a research report on Friday, November 1st. Wells Fargo & Company upped their target price on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. UBS Group initiated coverage on Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price for the company. Mizuho upped their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Citigroup initiated coverage on Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 target price for the company. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and a consensus target price of $357.83.

Insider Transactions at Eaton

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 directly owns 506,360 shares in the company, valued at $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,705 shares of company stock valued at $24,516,346. 0.53% of the stock is owned by insiders.

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.