1,430 Shares in Eaton Co. plc (NYSE:ETN) Acquired by MQS Management LLC

MQS Management LLC bought a new position in shares of Eaton Co. plc (NYSE:ETN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,430 shares of the industrial products company’s stock, valued at approximately $474,000.

Other large investors have also recently made changes to their positions in the company. Strategic Wealth Partners Ltd. boosted its stake in Eaton by 3.0% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 30 shares during the period. Fairfield Financial Advisors LTD boosted its position in shares of Eaton by 16.2% in the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after acquiring an additional 30 shares during the period. Legacy Capital Group California Inc. grew its stake in Eaton by 1.2% during the second quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock valued at $870,000 after acquiring an additional 32 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Eaton by 2.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock worth $513,000 after acquiring an additional 32 shares during the period. Finally, Well Done LLC lifted its stake in Eaton by 1.3% in the 2nd quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock worth $800,000 after purchasing an additional 33 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

ETN opened at $369.88 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a 1 year low of $223.87 and a 1 year high of $373.49. The stock’s 50 day simple moving average is $331.19 and its 200 day simple moving average is $320.50. The firm has a market cap of $146.18 billion, a price-to-earnings ratio of 39.35, a PEG ratio of 2.96 and a beta of 1.01.

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, beating the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the prior year, the company posted $2.47 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is currently 40.00%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ETN shares. Bank of America boosted their price target on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company boosted their target price on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Morgan Stanley initiated coverage on Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Barclays decreased their price objective on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Finally, UBS Group initiated coverage on shares of Eaton in a research note on Wednesday. They issued a “buy” rating and a $431.00 target price on the stock. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $357.83.

Insider Transactions at Eaton

In other Eaton news, Director Karenann K. Terrell bought 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the acquisition, the director now directly owns 500 shares in the company, valued at $149,485. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Karenann K. Terrell purchased 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average cost of $298.97 per share, with a total value of $149,485.00. Following the completion of the purchase, the director now directly owns 500 shares in the company, valued at approximately $149,485. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,705 shares of company stock worth $24,516,346. 0.53% of the stock is currently owned by insiders.

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.