KCM Investment Advisors LLC Buys 143 Shares of Eaton Co. plc (NYSE:ETN)

KCM Investment Advisors LLC raised its stake in Eaton Co. plc (NYSE:ETN) by 0.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 18,032 shares of the industrial products company’s stock after acquiring an additional 143 shares during the period. KCM Investment Advisors LLC’s holdings in Eaton were worth $5,976,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Breakwater Investment Management lifted its position in shares of Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares in the last quarter. Proffitt & Goodson Inc. bought a new stake in shares of Eaton in the second quarter worth $29,000. LGT Financial Advisors LLC bought a new stake in shares of Eaton in the second quarter worth $33,000. West Financial Advisors LLC bought a new stake in shares of Eaton in the third quarter worth $35,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in shares of Eaton in the second quarter worth $37,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and boosted their price objective for the stock from $333.00 to $389.00 in a research report on Wednesday. Barclays lowered their target price on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Raymond James lowered their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Sanford C. Bernstein started coverage on shares of Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Finally, Bank of America boosted their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday. 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $357.83.

Eaton Stock Performance

Shares of Eaton stock traded down $2.38 during trading on Friday, reaching $359.48. The company’s stock had a trading volume of 389,913 shares, compared to its average volume of 2,104,470. The business’s 50-day moving average price is $334.34 and its 200-day moving average price is $321.13. The firm has a market cap of $142.07 billion, a PE ratio of 38.34, a P/E/G ratio of 2.96 and a beta of 1.01. Eaton Co. plc has a 52 week low of $224.52 and a 52 week high of $373.49. 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 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. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. Eaton’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.47 earnings per share. Equities analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given 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 is 40.00%.

Insider Buying and Selling

In other news, Director Karenann K. Terrell acquired 500 shares of the stock in a transaction dated Wednesday, August 21st. The stock was bought at an average price 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 of the company’s stock, valued at $149,485. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,705 shares of company stock valued at $24,516,346 over the last quarter. 0.53% of the stock is owned by company 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.