Hazlett Burt & Watson Inc. Acquires 121 Shares of Eaton Co. plc (NYSE:ETN)

Hazlett Burt & Watson Inc. increased its stake in Eaton Co. plc (NYSE:ETN) by 36.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 451 shares of the industrial products company’s stock after purchasing an additional 121 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Eaton were worth $149,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Capital World Investors lifted its holdings in shares of Eaton by 323.8% in 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 in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Eaton by 27,075.5% in 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 purchasing an additional 1,070,024 shares during the last quarter. Swedbank AB purchased a new stake in shares of Eaton in the second quarter worth about $225,974,000. Assenagon Asset Management S.A. boosted its stake in Eaton by 1,604.4% during the second quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock valued at $211,201,000 after buying an additional 634,059 shares during the last quarter. Finally, Wulff Hansen & CO. grew its holdings in Eaton by 31,255.0% during the 2nd quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock valued at $149,928,000 after buying an additional 476,639 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on ETN. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Barclays lowered their price target on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research report on Friday. Royal Bank of Canada reiterated an “outperform” rating and set a $374.00 price objective on shares of Eaton in a research report on Friday. Evercore ISI lowered their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Finally, Morgan Stanley assumed coverage on shares of Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Eaton currently has an average rating of “Moderate Buy” and a consensus target price of $341.00.

Eaton Stock Performance

Shares of ETN opened at $331.13 on Tuesday. The company has a market capitalization of $130.86 billion, a PE ratio of 35.23, a P/E/G ratio of 2.55 and a beta of 1.01. Eaton Co. plc has a 52-week low of $211.99 and a 52-week high of $349.74. The company has a 50-day simple moving average of $323.78 and a 200-day simple moving average of $318.52. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. The company 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%. Eaton’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.47 earnings per share. Equities research analysts predict that Eaton Co. plc will post 10.78 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s payout ratio is 40.00%.

Insider Transactions at Eaton

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the acquisition, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. 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 at this hyperlink. Also, Director Dorothy C. Thompson bought 2,205 shares of the firm’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 transaction, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The disclosure for this purchase can be found here. Insiders sold a total of 56,511 shares of company stock worth $17,150,526 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

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.