Janney Capital Management LLC Purchases 343 Shares of Eaton Co. plc (NYSE:ETN)

Janney Capital Management LLC raised its position in Eaton Co. plc (NYSE:ETN) by 2.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,017 shares of the industrial products company’s stock after acquiring an additional 343 shares during the quarter. Janney Capital Management LLC’s holdings in Eaton were worth $4,978,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Breakwater Investment Management boosted its holdings in shares of Eaton by 1,560.0% in the second 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. purchased a new position in shares of Eaton during the 2nd quarter worth $29,000. LGT Financial Advisors LLC bought a new stake in shares of Eaton during the 2nd quarter valued at $33,000. West Financial Advisors LLC purchased a new stake in shares of Eaton in the 3rd quarter worth $35,000. Finally, DiNuzzo Private Wealth Inc. bought a new position in Eaton in the 2nd quarter worth $37,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Up 1.0 %

Shares of ETN opened at $335.00 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.07. The stock has a market capitalization of $133.36 billion, a price-to-earnings ratio of 35.64, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01. Eaton Co. plc has a 1 year low of $211.99 and a 1 year high of $349.74. The business’s 50 day simple moving average is $323.09 and its 200-day simple moving average is $318.31.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the firm earned $2.47 earnings per share. Eaton’s revenue was up 7.9% on a year-over-year basis. As a group, equities analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Announces Dividend

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

Analyst Ratings Changes

ETN has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and set a $374.00 price target on shares of Eaton in a report on Friday. Mizuho boosted their price objective on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday. Morgan Stanley started coverage on shares of Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 target price on the stock. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Barclays decreased their price objective on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research report on Friday. Four equities research 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 company has an average rating of “Moderate Buy” and a consensus price target of $341.00.

Insiders Place Their Bets

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction that occurred on 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 $2,858,328. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Karenann K. Terrell bought 500 shares of Eaton stock in a transaction dated Wednesday, August 21st. The shares were acquired at an average price of $298.97 per share, with a total value of $149,485.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at $149,485. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,511 shares of company stock valued at $15,809,326 over the last ninety days. 0.53% of the stock is owned by insiders.

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.