Thompson Davis & CO. Inc. Purchases 300 Shares of Eaton Co. plc (NYSE:ETN)

Thompson Davis & CO. Inc. boosted its position in Eaton Co. plc (NYSE:ETN) by 46.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 950 shares of the industrial products company’s stock after acquiring an additional 300 shares during the period. Thompson Davis & CO. Inc.’s holdings in Eaton were worth $315,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETN. Capital World Investors raised its stake in shares of Eaton by 323.8% during the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after buying an additional 2,439,270 shares during the last quarter. International Assets Investment Management LLC raised its position 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 acquiring an additional 1,070,024 shares during the last quarter. Swedbank AB acquired a new position in shares of Eaton in the 2nd quarter valued at $225,974,000. Assenagon Asset Management S.A. boosted its position in shares of Eaton by 1,604.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock worth $211,201,000 after purchasing an additional 634,059 shares during the last quarter. Finally, Wulff Hansen & CO. grew its stake in shares of Eaton by 31,255.0% during the second quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock worth $149,928,000 after purchasing an additional 476,639 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Morgan Stanley assumed coverage on Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $374.00 price objective on shares of Eaton in a research note on Friday, November 1st. Raymond James lowered their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Sanford C. Bernstein began coverage on shares of Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target on the stock. Finally, Barclays lowered their price objective on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus target price of $357.83.

Eaton Price Performance

NYSE:ETN opened at $363.66 on Wednesday. The stock’s 50-day simple moving average is $338.69 and its 200 day simple moving average is $322.04. Eaton Co. plc has a 52-week low of $224.52 and a 52-week high of $373.49. 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 company has a market cap of $143.72 billion, a P/E ratio of 38.69, a P/E/G ratio of 2.85 and a beta of 1.01.

Eaton (NYSE:ETN) last posted its quarterly earnings results 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 firm had revenue of $6.35 billion for 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 business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.47 EPS. As a group, sell-side analysts forecast that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Insider Activity

In other Eaton news, Director Dorothy C. Thompson acquired 2,205 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the business’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 value of $22,224,561.93. Following the transaction, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. The trade was a 10.84 % 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 valued at $24,516,346 in the last quarter. Company insiders own 0.33% of the company’s stock.

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.