Eaton Co. plc (NYSE:ETN) Holdings Raised by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. increased its position in shares of Eaton Co. plc (NYSE:ETN) by 4.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,995 shares of the industrial products company’s stock after purchasing an additional 450 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Eaton were worth $3,313,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in Eaton by 1.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 576,657 shares of the industrial products company’s stock worth $180,310,000 after acquiring an additional 8,153 shares during the period. Morse Asset Management Inc bought a new stake in shares of Eaton in the 1st quarter worth approximately $270,000. Ascent Group LLC acquired a new position in Eaton during the 1st quarter valued at approximately $231,000. Waverly Advisors LLC grew its stake in Eaton by 7.1% during the 1st quarter. Waverly Advisors LLC now owns 7,323 shares of the industrial products company’s stock worth $2,290,000 after buying an additional 483 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in Eaton in the first quarter worth $600,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Up 1.7 %

Shares of NYSE:ETN opened at $377.41 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The stock has a market capitalization of $149.15 billion, a price-to-earnings ratio of 40.15, a PEG ratio of 2.94 and a beta of 1.01. Eaton Co. plc has a 1-year low of $224.52 and a 1-year high of $378.00. The company has a 50 day moving average price of $342.75 and a 200 day moving average price of $322.97.

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, topping the consensus estimate of $2.80 by $0.04. The business 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 company’s revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company posted $2.47 EPS. On average, research analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio is presently 40.00%.

Insiders Place Their Bets

In other news, Director Dorothy C. Thompson purchased 2,205 shares of Eaton stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price 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 trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the transaction, the insider now owns 3,914 shares in the company, valued at approximately $1,186,411.68. The trade was a 44.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,705 shares of company stock worth $24,516,346 over the last ninety days. 0.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ETN has been the subject of several analyst reports. Bank of America boosted their price target on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. UBS Group began coverage on shares of Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price for the company. Barclays dropped their price target on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Raymond James reduced their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Finally, Citigroup began coverage on Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $357.83.

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.