Eaton Co. plc (NYSE:ETN) Stake Boosted by Fisher Asset Management LLC

Fisher Asset Management LLC raised its holdings in shares of Eaton Co. plc (NYSE:ETN) by 3.6% in the 3rd quarter, Holdings Channel reports. The firm owned 203,302 shares of the industrial products company’s stock after purchasing an additional 7,129 shares during the quarter. Fisher Asset Management LLC’s holdings in Eaton were worth $67,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the business. IAM Advisory LLC bought a new position in Eaton in the second quarter worth about $599,000. Interval Partners LP lifted its holdings in shares of Eaton by 82.7% in the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after purchasing an additional 68,693 shares during the last quarter. Scientech Research LLC boosted its position in Eaton by 285.5% during the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock valued at $1,801,000 after purchasing an additional 4,254 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in Eaton by 25.9% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 27,609 shares of the industrial products company’s stock worth $8,657,000 after buying an additional 5,676 shares during the last quarter. Finally, Leavell Investment Management Inc. increased its position in Eaton by 67.6% in the second quarter. Leavell Investment Management Inc. now owns 8,556 shares of the industrial products company’s stock worth $2,683,000 after buying an additional 3,452 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on ETN shares. Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and upped their price target for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Morgan Stanley started coverage on Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective for the company. Citigroup assumed coverage on Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 target price on the stock. Finally, Barclays decreased their price target on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $357.83.

Eaton Stock Down 0.2 %

Shares of Eaton stock opened at $376.56 on Tuesday. 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 Co. plc has a 12-month low of $224.52 and a 12-month high of $379.12. The firm has a market capitalization of $148.81 billion, a PE ratio of 40.06, a price-to-earnings-growth ratio of 2.99 and a beta of 1.01. The stock’s fifty day moving average is $344.15 and its 200-day moving average is $323.22.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating 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 company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same period in the prior year, the firm earned $2.47 earnings per share. The business’s quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Announces Dividend

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

Insider Transactions at Eaton

In related news, Director Dorothy C. Thompson purchased 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the acquisition, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction 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 sale, the insider now directly owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. The trade was a 44.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,705 shares of company stock valued at $24,516,346 over the last quarter. Company insiders own 0.33% of the company’s stock.

Eaton Company Profile

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.