BIP Wealth LLC Buys 446 Shares of Eaton Co. plc (NYSE:ETN)

BIP Wealth LLC grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 53.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,280 shares of the industrial products company’s stock after acquiring an additional 446 shares during the quarter. BIP Wealth LLC’s holdings in Eaton were worth $424,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ETN. Legal & General Group Plc lifted its holdings in Eaton by 0.6% during the second quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock worth $1,005,317,000 after acquiring an additional 18,077 shares in the last quarter. Capital World Investors raised its position 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 purchasing an additional 2,439,270 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Eaton by 2.9% during the 3rd 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 purchasing an additional 40,078 shares in the last quarter. Janus Henderson Group PLC increased its stake in Eaton by 15.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock worth $412,108,000 after purchasing an additional 176,571 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after buying an additional 1,070,024 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Eaton news, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction on 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. This represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction 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 owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 68,705 shares of company stock worth $24,516,346. 0.33% of the stock is currently owned by company insiders.

Eaton Stock Performance

Shares of NYSE ETN opened at $363.66 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The firm has a market cap of $143.72 billion, a price-to-earnings ratio of 38.69, a P/E/G ratio of 2.85 and a beta of 1.01. The stock’s fifty day moving average price is $338.69 and its two-hundred day moving average price is $322.04. Eaton Co. plc has a one year low of $224.52 and a one year high of $373.49.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. Eaton’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $2.47 earnings per share. On average, equities analysts forecast that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Announces Dividend

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

Analyst Ratings Changes

ETN has been the subject of several research analyst reports. Morgan Stanley assumed coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $374.00 price objective on shares of Eaton in a report on Friday, November 1st. Bank of America upped their price target on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, Sanford C. Bernstein initiated coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target for the company. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $357.83.

Eaton Company 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.