River Street Advisors LLC Boosts Stock Holdings in Eaton Co. plc (NYSE:ETN)

River Street Advisors LLC grew its position in Eaton Co. plc (NYSE:ETN) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,361 shares of the industrial products company’s stock after purchasing an additional 227 shares during the period. Eaton comprises about 1.1% of River Street Advisors LLC’s portfolio, making the stock its 22nd largest position. River Street Advisors LLC’s holdings in Eaton were worth $2,108,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ETN. 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 second quarter valued at approximately $29,000. LGT Financial Advisors LLC bought a new position in Eaton during the second quarter valued at $33,000. West Financial Advisors LLC purchased a new stake in Eaton in the third quarter worth $35,000. Finally, DiNuzzo Private Wealth Inc. purchased a new position in shares of Eaton during the 2nd quarter valued at $37,000. 82.97% of the stock is owned by institutional investors.

Eaton Trading Down 0.8 %

Shares of ETN traded down $2.87 during mid-day trading on Friday, hitting $358.99. 2,232,026 shares of the company’s stock traded hands, compared to its average volume of 2,112,767. 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 has a market capitalization of $141.87 billion, a P/E ratio of 38.19, a PEG ratio of 2.96 and a beta of 1.01. The business’s 50-day moving average price is $335.82 and its 200-day moving average price is $321.35. Eaton Co. plc has a 1 year low of $224.52 and a 1 year high of $373.49.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. Eaton’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.47 earnings per share. As a group, sell-side analysts forecast that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be paid a $0.94 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.05%. Eaton’s dividend payout ratio is currently 40.00%.

Insider Transactions at Eaton

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the acquisition, the director now directly owns 2,205 shares in the company, valued at $662,161.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,705 shares of company stock valued at $24,516,346 in the last quarter. 0.53% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on ETN. Morgan Stanley assumed coverage on Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective on the stock. Mizuho boosted their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Raymond James reduced their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Sanford C. Bernstein initiated coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective on the stock. Finally, Barclays cut their target price on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.