KPP Advisory Services LLC Raises Position in Eaton Co. plc (NYSE:ETN)

KPP Advisory Services LLC increased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 128.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,773 shares of the industrial products company’s stock after purchasing an additional 996 shares during the period. KPP Advisory Services LLC’s holdings in Eaton were worth $588,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Breakwater Investment Management raised its position in shares of Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 78 shares during the last quarter. Proffitt & Goodson Inc. purchased a new position in shares of Eaton in the second quarter worth $29,000. LGT Financial Advisors LLC acquired a new stake in shares of Eaton during the second quarter worth $33,000. West Financial Advisors LLC purchased a new stake in shares of Eaton during the third quarter valued at $35,000. Finally, DiNuzzo Private Wealth Inc. acquired a new position in shares of Eaton in the 2nd quarter valued at $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on ETN. Wells Fargo & Company lifted their price target on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Sanford C. Bernstein began coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target on the stock. Raymond James decreased their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Finally, Bank of America increased their price objective on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $357.83.

Insider Buying and Selling

In other Eaton news, Director Karenann K. Terrell acquired 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were purchased at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the acquisition, the director now owns 500 shares of the company’s stock, valued at approximately $149,485. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the 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 transaction, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,705 shares of company stock worth $24,516,346. 0.53% of the stock is owned by corporate insiders.

Eaton Price Performance

ETN traded down $2.87 during trading on Friday, hitting $358.99. The company’s stock had a trading volume of 2,232,026 shares, compared to its average volume of 2,112,767. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $141.87 billion, a price-to-earnings ratio of 38.19, a P/E/G ratio of 2.96 and a beta of 1.01. The business’s fifty day simple moving average is $335.82 and its 200 day simple moving average is $321.35. Eaton Co. plc has a twelve month low of $224.52 and a twelve month high of $373.49.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.47 EPS. On average, equities research analysts forecast that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.05%. Eaton’s dividend payout ratio (DPR) is currently 40.00%.

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.