Eaton Co. plc (NYSE:ETN) Shares Acquired by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC lifted its position in shares of Eaton Co. plc (NYSE:ETN) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,707 shares of the industrial products company’s stock after acquiring an additional 449 shares during the period. Eaton comprises approximately 1.3% of Princeton Global Asset Management LLC’s holdings, making the stock its 19th largest holding. Princeton Global Asset Management LLC’s holdings in Eaton were worth $6,863,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Breakwater Investment Management grew its stake in Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after buying an additional 78 shares during the last quarter. Proffitt & Goodson Inc. bought a new position in Eaton during the 2nd quarter worth $29,000. LGT Financial Advisors LLC bought a new position in Eaton during the 2nd quarter worth $33,000. West Financial Advisors LLC bought a new position in Eaton during the 3rd quarter worth $35,000. Finally, DiNuzzo Private Wealth Inc. bought a new position in Eaton during the 2nd quarter worth $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ETN shares. Citigroup started coverage on Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 price objective for the company. Morgan Stanley started coverage on Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target for the company. Evercore ISI decreased their price target on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Wells Fargo & Company increased 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, Barclays decreased their price target on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research note on Friday. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $341.00.

Eaton Trading Up 1.0 %

Shares of NYSE ETN opened at $335.00 on Friday. Eaton Co. plc has a 12 month low of $211.99 and a 12 month high of $349.74. The company has a market cap of $133.36 billion, a price-to-earnings ratio of 35.64, a P/E/G ratio of 2.53 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The business has a fifty day simple moving average of $323.09 and a 200-day simple moving average of $318.31.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 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 business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the business posted $2.47 earnings per share. Eaton’s revenue was up 7.9% compared to the same quarter last year. Sell-side analysts predict that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio is 40.00%.

Insider Activity

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