Cable Hill Partners LLC Buys Shares of 636 Eaton Co. plc (NYSE:ETN)

Cable Hill Partners LLC acquired a new position in shares of Eaton Co. plc (NYSE:ETN) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 636 shares of the industrial products company’s stock, valued at approximately $211,000.

A number of other institutional investors also recently made changes to their positions in ETN. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Eaton by 16.5% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 27,561 shares of the industrial products company’s stock worth $8,618,000 after purchasing an additional 3,913 shares during the last quarter. Nwam LLC raised its holdings in Eaton by 1.5% in the 1st quarter. Nwam LLC now owns 3,408 shares of the industrial products company’s stock valued at $1,088,000 after acquiring an additional 51 shares during the last quarter. TCTC Holdings LLC boosted its holdings in shares of Eaton by 6.0% during the first quarter. TCTC Holdings LLC now owns 1,010 shares of the industrial products company’s stock worth $316,000 after purchasing an additional 57 shares during the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of Eaton in the first quarter valued at $1,758,000. Finally, First Foundation Advisors increased its stake in Eaton by 19.7% in the first quarter. First Foundation Advisors now owns 1,397 shares of the industrial products company’s stock valued at $437,000 after purchasing an additional 230 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Eaton news, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred 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 owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction 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 acquisition, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 68,705 shares of company stock worth $24,516,346 in the last three months. 0.53% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on ETN. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Morgan Stanley began coverage on shares of Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $374.00 price target on shares of Eaton in a research note on Friday, November 1st. Citigroup started coverage on shares of Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 price target on the stock. Finally, UBS Group began coverage on Eaton in a report on Wednesday. They set a “buy” rating and a $431.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $357.83.

Eaton Price Performance

Shares of ETN opened at $361.85 on Friday. The business’s 50-day moving average is $332.81 and its 200-day moving average is $320.84. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The company has a market capitalization of $143.00 billion, a price-to-earnings ratio of 39.35, a P/E/G ratio of 2.96 and a beta of 1.01. Eaton Co. plc has a fifty-two week low of $224.52 and a fifty-two week high of $373.49.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share 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 firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the prior year, the business earned $2.47 EPS. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts expect that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

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.