Verus Capital Partners LLC Increases Holdings in Eaton Co. plc (NYSE:ETN)

Verus Capital Partners LLC grew its holdings in Eaton Co. plc (NYSE:ETN) by 3.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,710 shares of the industrial products company’s stock after acquiring an additional 55 shares during the quarter. Verus Capital Partners LLC’s holdings in Eaton were worth $567,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Strategic Wealth Partners Ltd. lifted its position in shares of Eaton by 3.0% during the third 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 in the last quarter. Fairfield Financial Advisors LTD raised its holdings in 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 in the last quarter. Legacy Capital Group California Inc. raised its holdings in Eaton by 1.2% in 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 raised its holdings in Eaton by 2.1% in the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock valued at $513,000 after acquiring an additional 32 shares in the last quarter. Finally, Well Done LLC raised its holdings in Eaton by 1.3% in the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock valued at $800,000 after acquiring an additional 33 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Price Performance

Shares of NYSE ETN opened at $369.05 on Wednesday. Eaton Co. plc has a twelve month low of $220.24 and a twelve month high of $373.49. 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 company has a market capitalization of $145.85 billion, a price-to-earnings ratio of 39.26, a PEG ratio of 2.94 and a beta of 1.01. The firm has a 50-day moving average of $329.60 and a two-hundred day moving average of $320.18.

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. As a group, analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio is presently 40.00%.

Analyst Ratings Changes

A number of analysts have weighed in on ETN shares. Royal Bank of Canada reissued an “outperform” rating and set a $374.00 target price on shares of Eaton in a report on Friday, November 1st. Evercore ISI dropped their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. 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. Morgan Stanley started coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price target for the company. Finally, Mizuho upped their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $343.28.

Insider Buying and Selling at Eaton

In other news, insider Craig Arnold sold 61,569 shares of the 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 sale, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares in the company, valued at $17,241,796.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig Arnold sold 61,569 shares of the 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 transaction, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 117,745 shares of company stock valued at $39,278,367. 0.53% of the stock is currently owned by corporate insiders.

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.