Bank of Hawaii Buys 69 Shares of Eaton Co. plc (NYSE:ETN)

Bank of Hawaii raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,922 shares of the industrial products company’s stock after acquiring an additional 69 shares during the period. Bank of Hawaii’s holdings in Eaton were worth $1,963,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Breakwater Investment Management grew its stake in shares of Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 78 shares during the period. Proffitt & Goodson Inc. bought a new position in Eaton in the 2nd quarter worth about $29,000. LGT Financial Advisors LLC bought a new position in shares of Eaton in the second quarter valued at approximately $33,000. West Financial Advisors LLC bought a new position in shares of Eaton in the third quarter worth $35,000. Finally, DT Investment Partners LLC bought a new position in Eaton in the 3rd quarter worth about $37,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ETN has been the topic of a number of research analyst reports. UBS Group initiated coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target on the stock. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Barclays dropped their target price on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Raymond James reduced their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Finally, Bank of America raised their price target on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $357.83.

Eaton Stock Performance

Shares of ETN opened at $377.41 on Monday. Eaton Co. plc has a 52 week low of $224.52 and a 52 week high of $378.00. 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 $149.15 billion, a P/E ratio of 40.15, a P/E/G ratio of 2.99 and a beta of 1.01. The business’s 50 day moving average price is $342.75 and its 200-day moving average price is $322.91.

Eaton (NYSE:ETN) last issued its quarterly 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. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the company earned $2.47 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. Equities research analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Monday, November 4th. Eaton’s payout ratio is 40.00%.

Insider Buying and Selling

In other news, insider Michael Yelton sold 3,136 shares of Eaton 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 sale, the insider now directly owns 3,914 shares in the company, valued at $1,186,411.68. The trade was a 44.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dorothy C. Thompson acquired 2,205 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the transaction, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 68,705 shares of company stock worth $24,516,346 in the last three months. Insiders own 0.33% 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.