Eaton Co. plc (NYSE:ETN) Stake Raised by Lindbrook Capital LLC

Lindbrook Capital LLC increased its holdings in Eaton Co. plc (NYSE:ETN) by 33.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,482 shares of the industrial products company’s stock after purchasing an additional 1,126 shares during the quarter. Lindbrook Capital LLC’s holdings in Eaton were worth $1,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. IAM Advisory LLC bought a new stake in shares of Eaton during the second quarter valued at about $599,000. Interval Partners LP raised its position in shares of Eaton by 82.7% during the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after buying an additional 68,693 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Eaton by 40.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 19,513 shares of the industrial products company’s stock worth $6,101,000 after acquiring an additional 5,634 shares during the period. Scientech Research LLC increased its stake in shares of Eaton by 285.5% during the second quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock valued at $1,801,000 after acquiring an additional 4,254 shares during the period. Finally, Sei Investments Co. lifted its position in Eaton by 6.5% in the first quarter. Sei Investments Co. now owns 283,757 shares of the industrial products company’s stock worth $88,724,000 after purchasing an additional 17,285 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the sale, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 approximately $182,780,769.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the transaction, the insider now directly owns 71,262 shares in the company, valued at approximately $21,451,287.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 118,080 shares of company stock worth $39,375,088. Insiders own 0.53% of the company’s stock.

Eaton Stock Up 1.7 %

NYSE:ETN opened at $366.77 on Friday. Eaton Co. plc has a 1-year low of $217.61 and a 1-year high of $369.29. The firm has a market capitalization of $144.95 billion, a price-to-earnings ratio of 39.02, a PEG ratio of 2.88 and a beta of 1.01. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The business’s fifty day moving average price is $328.30 and its 200 day moving average price is $319.74.

Eaton (NYSE:ETN) last posted 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 business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the business posted $2.47 earnings per share. Eaton’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, sell-side analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.03%. Eaton’s payout ratio is 40.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ETN. Sanford C. Bernstein initiated coverage on Eaton in a research report on Tuesday. They set an “outperform” rating and a $382.00 price target on the stock. Mizuho lifted 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. Royal Bank of Canada reissued an “outperform” rating and issued a $374.00 price target on shares of Eaton in a report on Friday, November 1st. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, Barclays reduced their target price 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. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $343.28.

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.