Eaton Co. plc (NYSE:ETN) Stock Holdings Lifted by Chicago Capital LLC

Chicago Capital LLC lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 6.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,789 shares of the industrial products company’s stock after purchasing an additional 4,087 shares during the quarter. Chicago Capital LLC’s holdings in Eaton were worth $21,805,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. RFG Advisory LLC grew its stake in Eaton by 5.3% in the 1st quarter. RFG Advisory LLC now owns 4,233 shares of the industrial products company’s stock valued at $1,323,000 after buying an additional 213 shares during the last quarter. Rockland Trust Co. acquired a new position in Eaton during the first quarter worth $216,000. &PARTNERS lifted its holdings in Eaton by 108.8% during the 1st quarter. &PARTNERS now owns 2,359 shares of the industrial products company’s stock valued at $738,000 after purchasing an additional 1,229 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Eaton by 139.5% in the first quarter. International Assets Investment Management LLC now owns 3,145 shares of the industrial products company’s stock valued at $981,000 after acquiring an additional 1,832 shares during the last quarter. Finally, Salem Investment Counselors Inc. raised its position in Eaton by 2.8% in the 1st quarter. Salem Investment Counselors Inc. now owns 7,950 shares of the industrial products company’s stock valued at $2,486,000 after purchasing an additional 219 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. 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 note on Thursday, July 11th. Mizuho lifted their price target on shares of Eaton from $355.00 to $365.00 and gave the stock an “outperform” rating in a research report on Thursday. Evercore ISI cut their price target on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Morgan Stanley initiated coverage on Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Finally, Raymond James decreased their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $340.06.

Eaton Trading Down 0.1 %

Eaton stock opened at $348.18 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. The firm has a 50-day moving average of $314.01 and a 200-day moving average of $316.68. The company has a market cap of $139.20 billion, a price-to-earnings ratio of 41.11, a P/E/G ratio of 2.58 and a beta of 1.02. Eaton Co. plc has a one year low of $191.82 and a one year high of $349.74.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. On average, equities 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 declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.08%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio (DPR) is currently 44.39%.

Insider Buying and Selling at Eaton

In other news, Director Dorothy C. Thompson bought 2,205 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $300.30 per share, with a total value of $662,161.50. Following the acquisition, the director now owns 2,205 shares in the company, valued at $662,161.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Eaton news, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the transaction, the insider now directly owns 3,914 shares in the company, valued at $1,186,411.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dorothy C. Thompson bought 2,205 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the purchase, the director now owns 2,205 shares in the company, valued at $662,161.50. The disclosure for this purchase can be found here. Insiders sold a total of 52,511 shares of company stock worth $15,809,326 over the last quarter. 0.53% of the stock is currently owned by insiders.

Eaton 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.