Eaton Co. plc (NYSE:ETN) Shares Bought by Neville Rodie & Shaw Inc.

Neville Rodie & Shaw Inc. grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,386 shares of the industrial products company’s stock after purchasing an additional 2,428 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Eaton were worth $12,739,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ETN. Geode Capital Management LLC grew its position in Eaton by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after buying an additional 56,516 shares during the last quarter. Legal & General Group Plc grew its position in Eaton by 0.6% in the 2nd 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 buying an additional 18,077 shares during the last quarter. Franklin Resources Inc. grew its position in Eaton by 15.1% in the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after buying an additional 316,830 shares during the last quarter. Janus Henderson Group PLC grew its position in Eaton by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after buying an additional 597,700 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Eaton by 253.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after buying an additional 1,629,856 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Up 2.6 %

ETN traded up $8.93 during midday trading on Monday, hitting $351.51. The company’s stock had a trading volume of 984,149 shares, compared to its average volume of 1,693,484. 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 firm has a market cap of $138.92 billion, a P/E ratio of 37.39, a PEG ratio of 2.74 and a beta of 1.06. The firm has a 50-day moving average price of $354.67 and a two-hundred day moving average price of $328.11. Eaton Co. plc has a 52-week low of $234.20 and a 52-week high of $379.99.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the business earned $2.47 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, research analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s payout ratio is currently 40.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ETN shares. Bank of America lifted their price objective on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. UBS Group assumed coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price for the company. Mizuho raised their target price on 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 raised their target price on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a report on Friday. Finally, Sanford C. Bernstein initiated coverage on Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target for the company. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $368.83.

Insider Transactions at Eaton

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is currently owned by company 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.