W.H. Cornerstone Investments Inc. Has $354,000 Holdings in Eaton Co. plc (NYSE:ETN)

W.H. Cornerstone Investments Inc. trimmed its stake in Eaton Co. plc (NYSE:ETN) by 11.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,067 shares of the industrial products company’s stock after selling 132 shares during the period. W.H. Cornerstone Investments Inc.’s holdings in Eaton were worth $354,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. IAM Advisory LLC acquired a new position in Eaton in the 2nd quarter valued at approximately $599,000. Envestnet Portfolio Solutions Inc. lifted its position in Eaton by 19.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock worth $24,616,000 after purchasing an additional 12,689 shares during the period. Interval Partners LP increased its holdings in Eaton by 82.7% in the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock valued at $47,571,000 after buying an additional 68,693 shares during the period. Empowered Funds LLC raised its stake in shares of Eaton by 302.4% in the 1st quarter. Empowered Funds LLC now owns 23,273 shares of the industrial products company’s stock valued at $7,277,000 after buying an additional 17,490 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its holdings in shares of Eaton by 40.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 19,513 shares of the industrial products company’s stock worth $6,101,000 after acquiring an additional 5,634 shares during the period. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

ETN stock opened at $331.13 on Tuesday. The stock has a market capitalization of $130.86 billion, a PE ratio of 35.23, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The company has a 50 day moving average price of $323.78 and a 200 day moving average price of $318.52. Eaton Co. plc has a fifty-two week low of $211.99 and a fifty-two week high of $349.74.

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 the consensus estimate of $2.80 by $0.04. The business 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 firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.47 earnings per share. Analysts forecast that Eaton Co. plc will post 10.78 EPS for the current year.

Eaton Announces Dividend

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

Insider Activity at Eaton

In other Eaton news, Director Karenann K. Terrell bought 500 shares of the stock in a transaction on Wednesday, August 21st. The stock was purchased at an average price of $298.97 per share, with a total value of $149,485.00. Following the acquisition, the director now owns 500 shares of the company’s stock, valued at approximately $149,485. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Dorothy C. Thompson acquired 2,205 shares of Eaton stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $300.30 per share, with a total value of $662,161.50. Following the purchase, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karenann K. Terrell bought 500 shares of the stock in a transaction on Wednesday, August 21st. The stock was purchased at an average cost of $298.97 per share, with a total value of $149,485.00. Following the purchase, the director now directly owns 500 shares of the company’s stock, valued at approximately $149,485. The disclosure for this purchase can be found here. Insiders have sold 56,511 shares of company stock worth $17,150,526 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

ETN has been the subject of several recent research reports. Mizuho increased their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Jefferies Financial Group upped their price target on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Sanford C. Bernstein assumed coverage on Eaton in a report on Tuesday. They set an “outperform” rating and a $382.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $374.00 target price on shares of Eaton in a report on Friday. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus price target of $343.28.

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.