Eaton Co. plc (NYSE:ETN) Shares Purchased by Prospera Financial Services Inc

Prospera Financial Services Inc increased its holdings in Eaton Co. plc (NYSE:ETN) by 11.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,314 shares of the industrial products company’s stock after buying an additional 2,761 shares during the period. Prospera Financial Services Inc’s holdings in Eaton were worth $9,054,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co lifted its stake in Eaton by 13.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 305,105 shares of the industrial products company’s stock valued at $95,408,000 after buying an additional 37,134 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Eaton during the first quarter valued at $11,256,000. Ossiam increased its position in Eaton by 19,824.0% during the 1st quarter. Ossiam now owns 101,214 shares of the industrial products company’s stock worth $31,648,000 after purchasing an additional 100,706 shares in the last quarter. MQS Management LLC acquired a new position in Eaton in the 1st quarter valued at about $207,000. Finally, Burns Matteson Capital Management LLC lifted its holdings in Eaton by 2.6% in the 1st quarter. Burns Matteson Capital Management LLC now owns 2,892 shares of the industrial products company’s stock valued at $904,000 after purchasing an additional 72 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In other news, insider Craig Arnold sold 61,569 shares of Eaton 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 sale, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Karenann K. Terrell bought 500 shares of Eaton stock in a transaction dated 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 transaction, the director now owns 500 shares of the company’s stock, valued at approximately $149,485. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 68,705 shares of company stock valued at $24,516,346. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ETN shares. Barclays lowered their price target on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. UBS Group initiated coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price for the company. Mizuho increased their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and lifted their price objective for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Finally, Morgan Stanley began coverage on Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $357.83.

Eaton Trading Down 0.3 %

Shares of ETN stock opened at $357.83 on Tuesday. Eaton Co. plc has a fifty-two week low of $224.52 and a fifty-two week high of $373.49. The firm’s 50 day moving average price is $337.19 and its two-hundred day moving average price is $321.74. The stock has a market cap of $141.41 billion, a price-to-earnings ratio of 38.07, a price-to-earnings-growth ratio of 2.85 and a beta of 1.01. 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 announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the prior year, the company earned $2.47 EPS. The firm’s revenue was up 7.9% on a year-over-year basis. On average, analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be issued a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.05%. Eaton’s payout ratio 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.