Lifeworks Advisors LLC Purchases 1,653 Shares of Eaton Co. plc (NYSE:ETN)

Lifeworks Advisors LLC boosted its position in Eaton Co. plc (NYSE:ETN) by 22.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,016 shares of the industrial products company’s stock after acquiring an additional 1,653 shares during the period. Lifeworks Advisors LLC’s holdings in Eaton were worth $2,988,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Metis Global Partners LLC boosted its holdings in Eaton by 0.3% in the third quarter. Metis Global Partners LLC now owns 15,605 shares of the industrial products company’s stock valued at $5,172,000 after acquiring an additional 50 shares during the last quarter. Curi RMB Capital LLC boosted its holdings in Eaton by 36.7% in the third quarter. Curi RMB Capital LLC now owns 4,380 shares of the industrial products company’s stock valued at $1,452,000 after acquiring an additional 1,176 shares during the last quarter. Zions Bancorporation N.A. boosted its holdings in Eaton by 3.5% in the third quarter. Zions Bancorporation N.A. now owns 15,852 shares of the industrial products company’s stock valued at $5,254,000 after acquiring an additional 535 shares during the last quarter. KBC Group NV boosted its holdings in Eaton by 89.8% in the third quarter. KBC Group NV now owns 57,044 shares of the industrial products company’s stock valued at $18,906,000 after acquiring an additional 26,995 shares during the last quarter. Finally, Bouvel Investment Partners LLC boosted its holdings in Eaton by 0.6% in the third quarter. Bouvel Investment Partners LLC now owns 14,679 shares of the industrial products company’s stock valued at $4,865,000 after acquiring an additional 85 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In other Eaton news, Director Karenann K. Terrell purchased 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 transaction, the director now owns 500 shares in the company, valued at $149,485. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Eaton news, Director Karenann K. Terrell purchased 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 transaction, the director now owns 500 shares in the company, valued at $149,485. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dorothy C. Thompson purchased 2,205 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of $300.30 per share, for a total transaction 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. In the last quarter, insiders have sold 68,705 shares of company stock valued at $24,516,346. 0.53% of the stock is owned by corporate insiders.

Eaton Trading Down 0.9 %

Eaton stock traded down $3.33 during trading hours on Thursday, reaching $366.33. 167,480 shares of the company’s stock were exchanged, compared to its average volume of 2,104,765. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The firm’s 50 day simple moving average is $332.81 and its 200 day simple moving average is $320.84. Eaton Co. plc has a twelve month low of $224.52 and a twelve month high of $373.49. The firm has a market capitalization of $144.77 billion, a PE ratio of 39.35, a PEG ratio of 2.96 and a beta of 1.01.

Eaton (NYSE:ETN) last released its quarterly earnings data 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. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.47 EPS. Research analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be given a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.03%. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ETN shares. UBS Group started coverage on Eaton in a report on Wednesday. They issued a “buy” rating and a $431.00 price target on the stock. Mizuho raised their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and raised their target price for the stock from $333.00 to $389.00 in a report on Wednesday. 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 analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average target price of $357.83.

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.