Howe & Rusling Inc. Increases Stock Position in Eaton Co. plc (NYSE:ETN)

Howe & Rusling Inc. increased its position in shares of Eaton Co. plc (NYSE:ETN) by 8.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 900 shares of the industrial products company’s stock after purchasing an additional 70 shares during the quarter. Howe & Rusling Inc.’s holdings in Eaton were worth $298,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. MQS Management LLC purchased a new stake in Eaton in the first quarter worth $207,000. Vident Advisory LLC increased its holdings in Eaton by 13.3% in the 1st quarter. Vident Advisory LLC now owns 9,322 shares of the industrial products company’s stock worth $2,915,000 after acquiring an additional 1,091 shares during the last quarter. CreativeOne Wealth LLC raised its stake in Eaton by 189.0% in the 1st quarter. CreativeOne Wealth LLC now owns 3,826 shares of the industrial products company’s stock valued at $1,196,000 after acquiring an additional 2,502 shares during the period. EP Wealth Advisors LLC lifted its holdings in Eaton by 4.4% during the first quarter. EP Wealth Advisors LLC now owns 18,828 shares of the industrial products company’s stock valued at $5,887,000 after purchasing an additional 798 shares during the last quarter. Finally, Axxcess Wealth Management LLC boosted its position in Eaton by 95.1% during the first quarter. Axxcess Wealth Management LLC now owns 6,353 shares of the industrial products company’s stock worth $1,986,000 after purchasing an additional 3,097 shares during the period. 82.97% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Dorothy C. Thompson acquired 2,205 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 approximately $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,705 shares of company stock valued at $24,516,346 in the last ninety days. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ETN. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and boosted their target price for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Bank of America increased their price objective on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. UBS Group assumed coverage on Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price for the company. Barclays lowered their price target on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Finally, Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $357.83.

Eaton Stock Performance

NYSE:ETN opened at $360.46 on Thursday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 12-month low of $224.52 and a 12-month high of $373.49. The stock has a 50-day moving average price of $339.96 and a 200 day moving average price of $322.31. The stock has a market capitalization of $142.45 billion, a P/E ratio of 38.35, a P/E/G ratio of 2.85 and a beta of 1.01.

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

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be issued 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 1.04%. Eaton’s dividend payout ratio (DPR) is presently 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.