SFE Investment Counsel Buys 1,406 Shares of Eaton Co. plc (NYSE:ETN)

SFE Investment Counsel raised its position in shares of Eaton Co. plc (NYSE:ETN) by 16.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,956 shares of the industrial products company’s stock after purchasing an additional 1,406 shares during the period. SFE Investment Counsel’s holdings in Eaton were worth $3,300,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Brookstone Capital Management lifted its position in Eaton by 15.5% in the first quarter. Brookstone Capital Management now owns 1,375 shares of the industrial products company’s stock valued at $430,000 after purchasing an additional 185 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in Eaton by 36.0% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 1,450 shares of the industrial products company’s stock valued at $453,000 after buying an additional 384 shares during the period. Miracle Mile Advisors LLC grew its holdings in Eaton by 20.1% in the 1st quarter. Miracle Mile Advisors LLC now owns 4,333 shares of the industrial products company’s stock worth $1,355,000 after acquiring an additional 726 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in shares of Eaton in the first quarter valued at about $92,000. Finally, Naviter Wealth LLC bought a new position in shares of Eaton during the first quarter valued at about $238,000. Institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 0.3 %

Shares of NYSE:ETN opened at $345.56 on Tuesday. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average of $319.86 and a two-hundred day moving average of $317.69. Eaton Co. plc has a 12-month low of $196.12 and a 12-month high of $349.74. The company has a market capitalization of $137.57 billion, a PE ratio of 38.02, a PEG ratio of 2.62 and a beta of 1.02.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. As a group, analysts forecast that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a $0.94 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.09%. Eaton’s dividend payout ratio (DPR) is 41.36%.

Insider Buying and Selling

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the purchase, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dorothy C. Thompson acquired 2,205 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 52,511 shares of company stock worth $15,809,326. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Morgan Stanley began coverage on Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 target price on the stock. Mizuho upped their price objective on shares of Eaton from $355.00 to $365.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Wells Fargo & Company boosted their price target on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Raymond James decreased their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Finally, Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $340.06.

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.