Eaton Co. plc (NYSE:ETN) Holdings Boosted by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 21.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 252,312 shares of the industrial products company’s stock after purchasing an additional 44,052 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.06% of Eaton worth $83,626,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Breakwater Investment Management increased its position in Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after buying an additional 78 shares during the period. Proffitt & Goodson Inc. bought a new position in shares of Eaton during the second quarter worth about $29,000. LGT Financial Advisors LLC acquired a new stake in shares of Eaton in the 2nd quarter worth about $33,000. Redmont Wealth Advisors LLC bought a new stake in Eaton in the 1st quarter valued at about $33,000. Finally, West Financial Advisors LLC acquired a new position in Eaton during the 3rd quarter valued at about $35,000. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

ETN has been the topic of a number of recent analyst reports. Mizuho lifted their price target on Eaton from $355.00 to $365.00 and gave the company an “outperform” rating in a report on Thursday. Wells Fargo & Company lifted their target price on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Royal Bank of Canada decreased their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Jefferies Financial Group lifted their price objective on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Finally, Raymond James decreased their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $340.06.

Eaton Price Performance

NYSE ETN opened at $348.18 on Friday. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $349.74. The business’s fifty day moving average is $314.01 and its two-hundred day moving average is $316.68. The stock has a market capitalization of $139.20 billion, a P/E ratio of 41.11, a P/E/G ratio of 2.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56.

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

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Monday, August 5th. Eaton’s payout ratio is 44.39%.

Insider Transactions at Eaton

In related news, insider Michael Yelton sold 3,136 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the transaction, the insider now owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael Yelton sold 3,136 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at $1,186,411.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,511 shares of company stock valued at $15,809,326 over the last ninety days. 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.