Wilmington Savings Fund Society FSB Purchases Shares of 14,822 Eaton Co. plc (NYSE:ETN)

Wilmington Savings Fund Society FSB acquired a new position in shares of Eaton Co. plc (NYSE:ETN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 14,822 shares of the industrial products company’s stock, valued at approximately $4,913,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Breakwater Investment Management lifted its position 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 in the last quarter. Proffitt & Goodson Inc. acquired a new position in shares of Eaton in the 2nd quarter valued at approximately $29,000. Morse Asset Management Inc bought a new stake in shares of Eaton during the third quarter worth $33,000. LGT Financial Advisors LLC bought a new position in Eaton during the 2nd quarter worth about $33,000. Finally, West Financial Advisors LLC acquired a new stake in Eaton in the 3rd quarter valued at approximately $35,000. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ETN. Barclays upped their price objective on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Wells Fargo & Company upped their price target on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. 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 note on Monday, September 9th. Mizuho boosted their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Morgan Stanley began coverage on Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 price target for the company. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $367.83.

Eaton Trading Down 0.9 %

NYSE ETN opened at $358.71 on Friday. Eaton Co. plc has a one year low of $231.84 and a one year high of $379.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The business has a 50 day simple moving average of $355.33 and a 200 day simple moving average of $326.59. The stock has a market capitalization of $141.76 billion, a P/E ratio of 38.16, a P/E/G ratio of 2.74 and a beta of 1.03.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $6.37 billion. During the same period in the prior year, the business earned $2.47 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Research analysts expect that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a $0.94 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.05%. Eaton’s dividend payout ratio is presently 40.00%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The sale 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 Eaton stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the transaction, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,981 shares of company stock worth $24,100,317. Corporate 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.