Eaton Co. plc (NYSE:ETN) Shares Acquired by Bright Financial Advisors Inc.

Bright Financial Advisors Inc. boosted its stake in shares of Eaton Co. plc (NYSE:ETN) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,141 shares of the industrial products company’s stock after buying an additional 198 shares during the period. Eaton comprises 2.6% of Bright Financial Advisors Inc.’s investment portfolio, making the stock its 9th largest holding. Bright Financial Advisors Inc.’s holdings in Eaton were worth $4,024,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Eaton by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 36,595,656 shares of the industrial products company’s stock worth $8,812,966,000 after purchasing an additional 259,615 shares in the last quarter. Legal & General Group Plc lifted its position in Eaton by 0.6% in 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 buying an additional 18,077 shares in the last quarter. Capital World Investors boosted its stake in shares of Eaton by 323.8% during the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after buying an additional 2,439,270 shares during the period. Janus Henderson Group PLC increased 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, Jennison Associates LLC raised its holdings in shares of Eaton by 2,857.4% during the first quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock worth $394,752,000 after acquiring an additional 1,219,790 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Shares of NYSE:ETN traded up $4.45 during midday trading on Friday, reaching $341.39. 1,162,053 shares of the company’s stock were exchanged, compared to its average volume of 2,135,704. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The company’s 50 day simple moving average is $307.72 and its two-hundred day simple moving average is $315.60. Eaton Co. plc has a 12 month low of $191.82 and a 12 month high of $345.19. The firm has a market capitalization of $135.91 billion, a PE ratio of 37.56, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.12. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. Equities research analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s dividend payout ratio (DPR) is currently 41.36%.

Analyst Ratings Changes

Several brokerages have weighed in on ETN. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Barclays raised their price objective on shares of Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group boosted their target price on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Wells Fargo & Company upped their price target on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada dropped their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $339.47.

Insider Activity at Eaton

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the sale, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,511 shares of company stock valued at $15,809,326 in the last ninety days. Insiders own 0.53% of the company’s stock.

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.