Signature Estate & Investment Advisors LLC Purchases 254 Shares of Eaton Co. plc (NYSE:ETN)

Signature Estate & Investment Advisors LLC lifted its stake in Eaton Co. plc (NYSE:ETN) by 2.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 9,044 shares of the industrial products company’s stock after acquiring an additional 254 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Eaton were worth $2,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Connable Office Inc. purchased a new position in Eaton in the third quarter worth about $2,034,000. CIBC Asset Management Inc lifted its stake in shares of Eaton by 8.0% during the 3rd quarter. CIBC Asset Management Inc now owns 58,133 shares of the industrial products company’s stock worth $19,268,000 after acquiring an additional 4,284 shares during the last quarter. Impax Asset Management Group plc bought a new position in Eaton in the 3rd quarter valued at $2,347,000. OneDigital Investment Advisors LLC lifted its position in shares of Eaton by 4.4% during the third quarter. OneDigital Investment Advisors LLC now owns 7,309 shares of the industrial products company’s stock worth $2,422,000 after purchasing an additional 305 shares during the last quarter. Finally, Sycomore Asset Management boosted its stake in shares of Eaton by 0.5% during the third quarter. Sycomore Asset Management now owns 38,778 shares of the industrial products company’s stock valued at $12,914,000 after purchasing an additional 189 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Eaton news, Director Karenann K. Terrell purchased 500 shares of Eaton stock in a transaction dated Wednesday, August 21st. The shares were acquired at an average price of $298.97 per share, with a total value of $149,485.00. Following the completion of the transaction, the director now owns 500 shares of the company’s stock, valued at $149,485. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction dated Wednesday, November 6th. The shares were 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 directly owns 506,360 shares in the company, valued at $182,780,769.20. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,705 shares of company stock worth $24,516,346. 0.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ETN has been the topic of several recent analyst reports. Barclays reduced their price target on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Bank of America raised their price objective on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday. Mizuho upped their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. UBS Group started coverage on shares of Eaton in a research report on Wednesday. They set a “buy” rating and a $431.00 target price on the stock. Finally, Sanford C. Bernstein initiated coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target for the company. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $357.83.

Eaton Price Performance

NYSE:ETN opened at $361.85 on Friday. The firm’s fifty day moving average is $332.81 and its two-hundred day moving average is $320.84. The firm has a market cap of $143.00 billion, a price-to-earnings ratio of 38.49, a PEG ratio of 2.96 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton Co. plc has a one year low of $224.52 and a one year high of $373.49.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the company posted $2.47 earnings per share. Eaton’s revenue for the quarter was up 7.9% on a year-over-year basis. Research analysts expect that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Eaton 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.