Eaton Co. plc (NYSE:ETN) Position Raised by Milestones Administradora de Recursos Ltda.

Milestones Administradora de Recursos Ltda. increased its position in Eaton Co. plc (NYSE:ETN) by 318.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,546 shares of the industrial products company’s stock after acquiring an additional 17,920 shares during the period. Eaton makes up about 3.1% of Milestones Administradora de Recursos Ltda.’s portfolio, making the stock its 9th biggest holding. Milestones Administradora de Recursos Ltda.’s holdings in Eaton were worth $7,804,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ETN. Norden Group LLC acquired a new stake in shares of Eaton in the first quarter worth $2,176,000. IAM Advisory LLC purchased a new position in shares of Eaton during the 2nd quarter valued at about $599,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Eaton by 19.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock valued at $24,616,000 after buying an additional 12,689 shares during the period. Interval Partners LP boosted its stake in shares of Eaton by 82.7% in the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after buying an additional 68,693 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in Eaton by 302.4% during the first quarter. Empowered Funds LLC now owns 23,273 shares of the industrial products company’s stock worth $7,277,000 after acquiring an additional 17,490 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ETN shares. Raymond James lowered their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Wells Fargo & Company upped their price objective on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Mizuho upped their price target on Eaton from $355.00 to $365.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Royal Bank of Canada dropped their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Evercore ISI cut their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and an average price target of $340.06.

Insider Transactions at Eaton

In other news, Director Karenann K. Terrell bought 500 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were bought at an average price of $298.97 per share, with a total value of $149,485.00. Following the completion of the transaction, the director now directly owns 500 shares in the company, valued at $149,485. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were 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 of the company’s stock, valued at $2,858,328. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Karenann K. Terrell purchased 500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was acquired at an average cost of $298.97 per share, with a total value of $149,485.00. Following the transaction, the director now directly owns 500 shares in the company, valued at $149,485. The disclosure for this purchase can be found here. In the last three months, insiders have sold 52,511 shares of company stock worth $15,809,326. 0.33% of the stock is currently owned by insiders.

Eaton Trading Down 0.2 %

ETN traded down $0.68 during trading hours on Wednesday, reaching $344.87. The company’s stock had a trading volume of 416,870 shares, compared to its average volume of 2,088,547. The stock has a market cap of $137.29 billion, a PE ratio of 38.01, a P/E/G ratio of 2.62 and a beta of 1.02. Eaton Co. plc has a fifty-two week low of $198.68 and a fifty-two week high of $349.74. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. The business’s 50-day moving average is $320.85 and its 200-day moving average is $317.88.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.61 by $0.12. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. As a group, equities research analysts predict that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared 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. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is 41.36%.

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.