OneDigital Investment Advisors LLC Purchases 305 Shares of Eaton Co. plc (NYSE:ETN)

OneDigital Investment Advisors LLC increased its position in Eaton Co. plc (NYSE:ETN) by 4.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,309 shares of the industrial products company’s stock after acquiring an additional 305 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Eaton were worth $2,422,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc lifted its position in shares of Eaton by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock worth $1,005,317,000 after purchasing an additional 18,077 shares during the last quarter. Capital World Investors lifted its holdings in shares of Eaton by 323.8% during the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after buying an additional 2,439,270 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Eaton by 2.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,422,189 shares of the industrial products company’s stock valued at $471,370,000 after acquiring an additional 40,078 shares during the period. Janus Henderson Group PLC grew its stake in shares of Eaton by 15.5% in the first quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock worth $412,108,000 after acquiring an additional 176,571 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in Eaton by 27,075.5% during the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after acquiring an additional 1,070,024 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In other Eaton news, Director Dorothy C. Thompson bought 2,205 shares of Eaton stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the purchase, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael Yelton sold 3,136 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the transaction, the insider now directly owns 3,914 shares in the company, valued at approximately $1,186,411.68. The trade was a 44.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,705 shares of company stock worth $24,516,346 in the last quarter. Insiders own 0.53% of the company’s stock.

Eaton Stock Down 0.8 %

NYSE ETN opened at $358.99 on Friday. The stock’s 50 day simple moving average is $335.82 and its 200 day simple moving average is $321.37. 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 one year low of $224.52 and a one year high of $373.49. The firm has a market cap of $141.87 billion, a PE ratio of 38.19, a price-to-earnings-growth ratio of 2.96 and a beta of 1.01.

Eaton (NYSE:ETN) last released 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 business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the previous year, the business posted $2.47 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Raymond James reduced their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Sanford C. Bernstein assumed coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Barclays cut their price target on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Morgan Stanley began coverage on Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective on the stock. Finally, Mizuho raised their target price on 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 thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $357.83.

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.