Eaton Co. plc (NYSE:ETN) Stock Holdings Boosted by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lifted its position in Eaton Co. plc (NYSE:ETN) by 69.3% during the third quarter, Holdings Channel reports. The institutional investor owned 6,848 shares of the industrial products company’s stock after buying an additional 2,804 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Eaton were worth $2,270,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Strategic Wealth Partners Ltd. raised its holdings in shares of Eaton by 3.0% in the 3rd 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 grew its holdings in shares of Eaton by 16.2% in the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after acquiring an additional 30 shares during the last quarter. Legacy Capital Group California Inc. lifted its holdings in shares of 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 purchasing an additional 32 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in Eaton by 2.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock worth $513,000 after buying an additional 32 shares during the period. Finally, Well Done LLC lifted its stake in Eaton by 1.3% during the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock valued at $800,000 after buying an additional 33 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ETN. Mizuho boosted their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and increased their target price for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Sanford C. Bernstein began coverage on Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $374.00 price objective on shares of Eaton in a research note on Friday, November 1st. Finally, Raymond James lowered their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $357.83.

Eaton Trading Down 0.2 %

NYSE:ETN opened at $376.56 on Tuesday. The firm has a market cap of $148.81 billion, a price-to-earnings ratio of 40.06, a P/E/G ratio of 2.99 and a beta of 1.01. Eaton Co. plc has a 12 month low of $224.52 and a 12 month high of $379.12. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The company’s 50 day moving average is $344.15 and its 200-day moving average is $323.22.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the business posted $2.47 earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year. Equities analysts anticipate that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Announces Dividend

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

Insider Activity at Eaton

In other news, Director Dorothy C. Thompson bought 2,205 shares of Eaton stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares in the company, valued at $662,161.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the transaction, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,705 shares of company stock worth $24,516,346 in the last ninety days. 0.33% of the stock is currently owned by insiders.

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.