Reliant Investment Management LLC Buys 500 Shares of Eaton Co. plc (NYSE:ETN)

Reliant Investment Management LLC lifted its stake in Eaton Co. plc (NYSE:ETN) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,282 shares of the industrial products company’s stock after acquiring an additional 500 shares during the period. Eaton accounts for approximately 3.3% of Reliant Investment Management LLC’s holdings, making the stock its 9th biggest position. Reliant Investment Management LLC’s holdings in Eaton were worth $7,054,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Legacy Capital Group California Inc. raised its position in Eaton by 1.2% in the second quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock worth $870,000 after acquiring an additional 32 shares in the last quarter. Well Done LLC grew its stake in shares of Eaton by 1.3% in the 2nd quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock worth $800,000 after purchasing an additional 33 shares during the last quarter. J.W. Cole Advisors Inc. raised its holdings in shares of Eaton by 1.7% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 2,053 shares of the industrial products company’s stock worth $644,000 after purchasing an additional 35 shares in the last quarter. Front Row Advisors LLC lifted its stake in Eaton by 0.4% during the second quarter. Front Row Advisors LLC now owns 7,842 shares of the industrial products company’s stock valued at $2,459,000 after purchasing an additional 35 shares during the last quarter. Finally, Quent Capital LLC boosted its holdings in Eaton by 2.6% during the third quarter. Quent Capital LLC now owns 1,380 shares of the industrial products company’s stock worth $456,000 after buying an additional 35 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on ETN. Barclays increased their price objective on Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company upped their target price on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday. Evercore ISI dropped their price target on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Royal Bank of Canada decreased their target price on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Raymond James cut their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $339.47.

Insider Buying and Selling at Eaton

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were bought 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 $662,161.50. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Eaton news, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now owns 3,914 shares of the company’s stock, valued at $1,186,411.68. 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 available through the SEC website. Also, Director Dorothy C. Thompson purchased 2,205 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the transaction, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The disclosure for this purchase can be found here. Insiders sold 52,511 shares of company stock worth $15,809,326 over the last ninety days. 0.53% of the stock is currently owned by insiders.

Eaton Trading Up 0.3 %

Shares of NYSE:ETN opened at $335.47 on Wednesday. Eaton Co. plc has a 12-month low of $191.82 and a 12-month high of $345.19. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $134.12 billion, a P/E ratio of 39.61, a price-to-earnings-growth ratio of 2.53 and a beta of 1.02. The firm has a fifty day moving average of $304.08 and a two-hundred day moving average of $314.92.

Eaton (NYSE:ETN) last issued 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. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. On average, equities analysts expect that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s payout ratio is presently 44.39%.

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.