Bedell Frazier Investment Counselling LLC Buys 115 Shares of Eaton Co. plc (NYSE:ETN)

Bedell Frazier Investment Counselling LLC increased its stake in Eaton Co. plc (NYSE:ETN) by 4.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,661 shares of the industrial products company’s stock after purchasing an additional 115 shares during the period. Bedell Frazier Investment Counselling LLC’s holdings in Eaton were worth $882,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Breakwater Investment Management raised its position in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares during the last quarter. Proffitt & Goodson Inc. bought a new stake in shares of Eaton during the 2nd quarter valued at $29,000. LGT Financial Advisors LLC bought a new stake in shares of Eaton during the 2nd quarter valued at $33,000. West Financial Advisors LLC bought a new stake in shares of Eaton during the 3rd quarter valued at $35,000. Finally, DT Investment Partners LLC bought a new stake in shares of Eaton during the 3rd quarter valued at $37,000. Institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 1.7 %

Eaton stock opened at $377.41 on Monday. The firm has a 50-day moving average of $342.75 and a 200-day moving average of $322.91. Eaton Co. plc has a one year low of $224.52 and a one year high of $378.00. 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 company has a market cap of $149.15 billion, a price-to-earnings ratio of 40.15, a P/E/G ratio of 2.99 and a beta of 1.01.

Eaton (NYSE:ETN) last posted its quarterly earnings data 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. 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 the consensus estimate of $6.37 billion. During the same period in the prior year, the business posted $2.47 EPS. The company’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities analysts expect that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were paid a dividend of $0.94 per share. The ex-dividend date was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.00%. Eaton’s dividend payout ratio is 40.00%.

Analyst Ratings Changes

Several brokerages have commented on ETN. UBS Group began coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price for the company. Citigroup began coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 target price for the company. Barclays dropped their target price on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. 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. Finally, Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and boosted their price target for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average target price of $357.83.

Insider Activity

In other news, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. This represents a 44.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were 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 approximately $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,705 shares of company stock valued at $24,516,346. 0.33% of the stock is owned by company insiders.

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.