Capital Advisors Inc. OK Increases Stock Position in Eaton Co. plc (NYSE:ETN)

Capital Advisors Inc. OK lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,491 shares of the industrial products company’s stock after purchasing an additional 1,629 shares during the period. Capital Advisors Inc. OK’s holdings in Eaton were worth $23,364,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Legal & General Group Plc lifted its position in shares of Eaton by 0.6% in the second quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock valued at $1,005,317,000 after acquiring an additional 18,077 shares in the last quarter. Capital World Investors raised its stake in Eaton by 323.8% in the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after purchasing an additional 2,439,270 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Eaton by 15.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock valued at $412,108,000 after purchasing an additional 176,571 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Eaton by 2,857.4% during the 1st quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock worth $394,752,000 after purchasing an additional 1,219,790 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Eaton by 27,075.5% during the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after buying an additional 1,070,024 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the sale, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the sale, the insider now owns 71,262 shares in the company, valued at approximately $21,451,287.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares of the company’s stock, valued at $2,858,328. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock valued at $15,809,326 in the last quarter. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on ETN shares. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Evercore ISI decreased their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Morgan Stanley assumed coverage on Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price for the company. Citigroup started coverage on Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $374.00 price objective on shares of Eaton in a research note on Friday. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $341.00.

Eaton Stock Performance

Shares of ETN opened at $335.00 on Friday. Eaton Co. plc has a 52-week low of $211.99 and a 52-week high of $349.74. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The firm has a market cap of $133.36 billion, a price-to-earnings ratio of 36.85, a PEG ratio of 2.62 and a beta of 1.02. The business’s 50 day moving average is $323.09 and its two-hundred day moving average is $318.29.

Eaton (NYSE:ETN) last issued its quarterly earnings results 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. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter last year, the company posted $2.47 earnings per share. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. Analysts forecast that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared 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. This represents a $3.76 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 41.36%.

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.