North Star Investment Management Corp. Purchases 41 Shares of Eaton Co. plc (NYSE:ETN)

North Star Investment Management Corp. boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,978 shares of the industrial products company’s stock after purchasing an additional 41 shares during the period. North Star Investment Management Corp.’s holdings in Eaton were worth $2,644,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Breakwater Investment Management grew its holdings in Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 78 shares during the last quarter. Proffitt & Goodson Inc. purchased a new stake in Eaton in the 2nd quarter valued at about $29,000. LGT Financial Advisors LLC purchased a new stake in Eaton in the 2nd quarter valued at about $33,000. West Financial Advisors LLC purchased a new stake in Eaton in the 3rd quarter valued at about $35,000. Finally, DT Investment Partners LLC purchased a new stake in Eaton in the 3rd quarter valued at about $37,000. 82.97% of the stock is currently owned by institutional investors.

Insider Transactions at Eaton

In other news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction 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 $21,451,287.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction 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 $21,451,287.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the stock in a transaction on Friday, November 1st. The stock was 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 in the company, valued at $17,241,796.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,511 shares of company stock worth $17,150,526 over the last 90 days. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ETN has been the subject of several research reports. Raymond James lowered their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Mizuho boosted their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $374.00 price target on shares of Eaton in a research report on Friday, November 1st. Finally, Jefferies Financial Group upped their price target on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $343.28.

Eaton Trading Up 2.0 %

Shares of Eaton stock opened at $337.59 on Wednesday. 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 $211.99 and a 12-month high of $349.74. The firm has a market capitalization of $133.42 billion, a price-to-earnings ratio of 35.91, a PEG ratio of 2.55 and a beta of 1.01. The firm’s 50 day simple moving average is $324.60 and its two-hundred day simple moving average is $318.76.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the prior year, the business posted $2.47 EPS. Eaton’s revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts predict that Eaton Co. plc will post 10.78 EPS for the current year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be paid 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 1.11%. Eaton’s payout ratio 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.