Eaton Co. plc (NYSE:ETN) Stake Lifted by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC raised its position in Eaton Co. plc (NYSE:ETN) by 21.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,530 shares of the industrial products company’s stock after purchasing an additional 450 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Eaton were worth $839,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Strategic Wealth Partners Ltd. raised its holdings in 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 position in shares of Eaton by 16.2% during the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 30 shares during the period. Legacy Capital Group California Inc. lifted its stake in Eaton by 1.2% during 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 buying an additional 32 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Eaton by 2.1% in the 3rd 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 boosted its position in shares of Eaton by 1.3% in the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock worth $800,000 after buying an additional 33 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Eaton

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing 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 dated 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 transaction, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,705 shares of company stock worth $24,516,346. 0.33% of the stock is currently owned by company insiders.

Eaton Trading Down 0.2 %

Shares of ETN opened at $376.56 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 12-month low of $224.52 and a 12-month high of $379.12. The firm has a market capitalization of $148.81 billion, a PE ratio of 40.06, a price-to-earnings-growth ratio of 2.99 and a beta of 1.01. The stock’s fifty day simple moving average is $344.15 and its 200-day simple moving average is $323.22.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate 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 was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.47 earnings per share. As a group, research analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were given a $0.94 dividend. The ex-dividend date of this dividend 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%.

Wall Street Analyst Weigh In

Several analysts recently commented on ETN shares. Citigroup began coverage on shares of Eaton in a report on Monday, September 16th. They set a “buy” rating and a $348.00 price target for the company. Morgan Stanley initiated coverage on Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective on the stock. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Sanford C. Bernstein started coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target for the company. Finally, Mizuho boosted their price objective on Eaton from $365.00 to $385.00 and gave the company 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.