Capital Performance Advisors LLP Makes New Investment in Eaton Co. plc (NYSE:ETN)

Capital Performance Advisors LLP acquired a new stake in Eaton Co. plc (NYSE:ETN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 589 shares of the industrial products company’s stock, valued at approximately $195,000.

A number of other hedge funds also recently made changes to their positions in ETN. IAM Advisory LLC bought a new position in Eaton during the second quarter worth $599,000. Interval Partners LP boosted its holdings in shares of Eaton by 82.7% during the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after buying an additional 68,693 shares during the period. Empowered Funds LLC grew its stake in Eaton by 302.4% in the 1st quarter. Empowered Funds LLC now owns 23,273 shares of the industrial products company’s stock valued at $7,277,000 after buying an additional 17,490 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in Eaton by 40.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 19,513 shares of the industrial products company’s stock valued at $6,101,000 after acquiring an additional 5,634 shares during the period. Finally, Scientech Research LLC lifted its position in Eaton by 285.5% during the second quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock worth $1,801,000 after acquiring an additional 4,254 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Up 1.2 %

ETN traded up $4.34 during midday trading on Friday, hitting $364.90. 625,543 shares of the company were exchanged, compared to its average volume of 2,109,326. The firm’s 50 day moving average price is $325.92 and its 200-day moving average price is $319.05. Eaton Co. plc has a 1-year low of $217.61 and a 1-year high of $366.08. The firm has a market capitalization of $144.21 billion, a P/E ratio of 38.36, a P/E/G ratio of 2.66 and a beta of 1.01. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45.

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 for the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the prior year, the business posted $2.47 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. As a group, equities analysts forecast that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be issued a $0.94 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.03%. Eaton’s payout ratio is 40.00%.

Insider Buying and Selling at Eaton

In related news, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Craig Arnold sold 61,569 shares of the stock in a transaction dated 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 transaction, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 118,080 shares of company stock valued at $39,375,088. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

ETN has been the topic of a number of recent research reports. Sanford C. Bernstein initiated coverage on Eaton in a research note on Tuesday. They set an “outperform” rating and a $382.00 target price on the stock. Raymond James lowered their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Mizuho upped their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Barclays cut their price objective on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Finally, Evercore ISI lowered their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $343.28.

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.