Segall Bryant & Hamill LLC Takes Position in Eaton Co. plc (NYSE:ETN)

Segall Bryant & Hamill LLC purchased a new stake in shares of Eaton Co. plc (NYSE:ETN) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,010 shares of the industrial products company’s stock, valued at approximately $6,632,000.

Several other large investors also recently modified their holdings of the stock. MQS Management LLC purchased a new position in shares of Eaton during the 1st quarter valued at $207,000. Axxcess Wealth Management LLC raised its holdings in Eaton by 95.1% during the 1st quarter. Axxcess Wealth Management LLC now owns 6,353 shares of the industrial products company’s stock valued at $1,986,000 after acquiring an additional 3,097 shares during the period. Capital International Inc. CA bought a new position in shares of Eaton in the first quarter worth $2,009,000. Canada Pension Plan Investment Board grew its position in shares of Eaton by 163.4% in the first quarter. Canada Pension Plan Investment Board now owns 263,409 shares of the industrial products company’s stock valued at $82,363,000 after purchasing an additional 163,394 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its position in shares of Eaton by 4.2% during the first quarter. Gamco Investors INC. ET AL now owns 16,833 shares of the industrial products company’s stock valued at $5,263,000 after buying an additional 677 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ETN shares. UBS Group began coverage on shares of Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and lifted their price target for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Mizuho increased their price objective on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $374.00 target price on shares of Eaton in a research note on Friday, November 1st. Finally, Morgan Stanley initiated coverage on shares of Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $357.83.

Eaton Stock Performance

NYSE:ETN opened at $371.08 on Friday. The firm’s fifty day simple moving average is $341.32 and its 200 day simple moving average is $322.65. Eaton Co. plc has a twelve month low of $224.52 and a twelve month high of $373.49. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The stock has a market cap of $146.65 billion, a P/E ratio of 39.48, a price-to-earnings-growth ratio of 2.89 and a beta of 1.01.

Eaton (NYSE:ETN) last issued its quarterly earnings data 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 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same period last year, the business posted $2.47 earnings per share. Eaton’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, research analysts predict that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a $0.94 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.01%. Eaton’s dividend payout ratio (DPR) is 40.00%.

Insider Activity

In other Eaton news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction 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 completion of the transaction, the insider now 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 can be accessed through this hyperlink. Also, insider Michael Yelton sold 3,136 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares in the company, valued at approximately $1,186,411.68. This represents a 44.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,705 shares of company stock worth $24,516,346. Corporate insiders own 0.53% of the company’s stock.

About Eaton

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.