GSG Advisors LLC Buys 59 Shares of Eaton Co. plc (NYSE:ETN)

GSG Advisors LLC raised its stake in Eaton Co. plc (NYSE:ETN) by 2.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,989 shares of the industrial products company’s stock after purchasing an additional 59 shares during the quarter. GSG Advisors LLC’s holdings in Eaton were worth $979,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Capital World Investors grew its stake 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 purchasing an additional 2,439,270 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Eaton by 27,075.5% during the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after buying an additional 1,070,024 shares during the period. Swedbank AB bought a new position in shares of Eaton during the second quarter valued at approximately $225,974,000. Assenagon Asset Management S.A. lifted its stake in Eaton by 1,604.4% in the second quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock worth $211,201,000 after acquiring an additional 634,059 shares during the period. Finally, Wulff Hansen & CO. boosted its holdings in Eaton by 31,255.0% in the second quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock valued at $149,928,000 after acquiring an additional 476,639 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 1.7 %

NYSE:ETN opened at $366.67 on Friday. Eaton Co. plc has a 52 week low of $217.61 and a 52 week high of $369.29. The stock has a market cap of $144.91 billion, a price-to-earnings ratio of 39.01, a PEG ratio of 2.88 and a beta of 1.01. The company’s 50 day moving average price is $328.30 and its 200-day moving average price is $319.74. 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 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion during 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 company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.47 EPS. On average, equities research analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Insider Activity

In other news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the transaction, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 118,080 shares of company stock valued at $39,375,088 in the last 90 days. 0.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on ETN shares. Royal Bank of Canada restated an “outperform” rating and issued a $374.00 price objective on shares of Eaton in a report on Friday, November 1st. Sanford C. Bernstein started coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target for the company. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Raymond James decreased their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Finally, Wells Fargo & Company lifted their price target on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.