Eaton Co. plc (NYSE:ETN) Holdings Lifted by Beech Hill Advisors Inc.

Beech Hill Advisors Inc. raised its stake in Eaton Co. plc (NYSE:ETN) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 17,341 shares of the industrial products company’s stock after purchasing an additional 65 shares during the period. Eaton comprises 2.2% of Beech Hill Advisors Inc.’s portfolio, making the stock its 9th largest holding. Beech Hill Advisors Inc.’s holdings in Eaton were worth $5,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Eaton by 253.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after purchasing an additional 1,629,856 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Eaton by 27,075.5% during 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 buying an additional 1,070,024 shares during the period. Janus Henderson Group PLC increased its stake in Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after acquiring an additional 597,700 shares during the last quarter. Electron Capital Partners LLC lifted its position in Eaton by 8,348.9% during the second quarter. Electron Capital Partners LLC now owns 446,524 shares of the industrial products company’s stock valued at $140,008,000 after buying an additional 441,239 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of Eaton in the 3rd quarter valued at $137,794,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In related news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction 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 directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,981 shares of company stock worth $27,660,117. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday. Royal Bank of Canada raised their price objective on Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Wells Fargo & Company dropped their price target on Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Bank of America boosted their target price on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Mizuho increased their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $368.89.

Eaton Trading Up 0.7 %

Shares of NYSE:ETN traded up $2.46 during mid-day trading on Thursday, reaching $345.04. The stock had a trading volume of 93,087 shares, compared to its average volume of 2,252,131. Eaton Co. plc has a twelve month low of $236.04 and a twelve month high of $379.99. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a market cap of $136.36 billion, a PE ratio of 36.71, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06. The firm has a 50 day simple moving average of $355.38 and a two-hundred day simple moving average of $329.33.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.37 billion. During the same period 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. On average, research analysts predict that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is currently 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.