Eaton Co. plc (NYSE:ETN) Shares Acquired by Providence Capital Advisors LLC

Providence Capital Advisors LLC raised its position in Eaton Co. plc (NYSE:ETN) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,146 shares of the industrial products company’s stock after acquiring an additional 178 shares during the quarter. Eaton makes up about 1.3% of Providence Capital Advisors LLC’s holdings, making the stock its 27th biggest holding. Providence Capital Advisors LLC’s holdings in Eaton were worth $6,346,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETN. Legal & General Group Plc grew its stake in shares of Eaton by 0.6% during the second quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock worth $1,005,317,000 after purchasing an additional 18,077 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Eaton by 2.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,422,189 shares of the industrial products company’s stock worth $471,370,000 after acquiring an additional 40,078 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after acquiring an additional 1,070,024 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Eaton by 8.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 923,033 shares of the industrial products company’s stock worth $305,930,000 after acquiring an additional 74,415 shares in the last quarter. Finally, National Pension Service boosted its holdings in Eaton by 13.0% in the third quarter. National Pension Service now owns 865,820 shares of the industrial products company’s stock valued at $286,967,000 after purchasing an additional 99,381 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the sale, the insider now owns 31,200 shares of the company’s stock, valued at $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the firm’s 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,981 shares of company stock valued at $24,100,317. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ETN shares. Sanford C. Bernstein started coverage on shares of Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective for the company. Morgan Stanley assumed coverage on shares of Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective for the company. Barclays cut their target price on Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and upped their target price for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $374.00 price target on shares of Eaton in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $357.83.

Eaton Trading Down 1.4 %

NYSE ETN opened at $371.97 on Thursday. Eaton Co. plc has a 52-week low of $224.52 and a 52-week high of $379.99. The firm has a 50-day moving average price of $346.61 and a 200 day moving average price of $323.89. The stock has a market capitalization of $147.00 billion, a P/E ratio of 39.57, a P/E/G ratio of 2.99 and a beta of 1.01. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period last year, the firm earned $2.47 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities research analysts expect that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is 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.