Dillon & Associates Inc. Purchases 2,596 Shares of Eaton Co. plc (NYSE:ETN)

Dillon & Associates Inc. lifted its holdings in Eaton Co. plc (NYSE:ETN) by 50.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 7,718 shares of the industrial products company’s stock after acquiring an additional 2,596 shares during the quarter. Dillon & Associates Inc.’s holdings in Eaton were worth $2,555,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Breakwater Investment Management raised its position in Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 78 shares during the period. Proffitt & Goodson Inc. purchased a new position in Eaton in the 2nd quarter valued at approximately $29,000. LGT Financial Advisors LLC bought a new stake in Eaton during the 2nd quarter valued at $33,000. West Financial Advisors LLC purchased a new stake in shares of Eaton during the third quarter worth $35,000. Finally, DT Investment Partners LLC purchased a new position in shares of Eaton in the third quarter valued at $37,000. 82.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Eaton news, Director Karenann K. Terrell acquired 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average price of $298.97 per share, with a total value of $149,485.00. Following the completion of the purchase, the director now directly owns 500 shares of the company’s stock, valued at approximately $149,485. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Karenann K. Terrell acquired 500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was purchased at an average cost of $298.97 per share, with a total value of $149,485.00. Following the completion of the acquisition, the director now directly owns 500 shares of the company’s stock, valued at approximately $149,485. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dorothy C. Thompson bought 2,205 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now owns 2,205 shares in the company, valued at $662,161.50. The disclosure for this purchase can be found here. Insiders sold 117,745 shares of company stock worth $39,278,367 over the last three months. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of recent research reports. Raymond James dropped 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. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $374.00 target price on shares of Eaton in a report on Friday, November 1st. Wells Fargo & Company raised 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. Finally, Morgan Stanley assumed coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $343.28.

Eaton Stock Down 0.8 %

NYSE ETN opened at $369.05 on Wednesday. The business’s 50-day moving average is $329.60 and its 200 day moving average is $320.18. The stock has a market capitalization of $145.85 billion, a PE ratio of 39.26, a PEG ratio of 2.98 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a 1 year low of $220.24 and a 1 year high of $373.49.

Eaton (NYSE:ETN) last announced its quarterly earnings results 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. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the firm posted $2.47 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. Sell-side analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors 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 yield of 1.02%. The ex-dividend date is Monday, November 4th. Eaton’s payout ratio is currently 40.00%.

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.