Eaton Co. plc (NYSE:ETN) Shares Acquired by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC grew its position in Eaton Co. plc (NYSE:ETN) by 30.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 576 shares of the industrial products company’s stock after acquiring an additional 135 shares during the period. Bruce G. Allen Investments LLC’s holdings in Eaton were worth $191,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ETN. Capital World Investors raised its position in shares of Eaton by 323.8% in the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after acquiring an additional 2,439,270 shares during the period. Jennison Associates LLC raised its position in shares of Eaton by 2,857.4% during the 1st quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock worth $394,752,000 after purchasing an additional 1,219,790 shares during the last quarter. Swedbank AB purchased a new stake in Eaton during the 2nd quarter valued at about $225,974,000. Assenagon Asset Management S.A. grew its stake in Eaton by 1,604.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock valued at $211,201,000 after acquiring an additional 634,059 shares in the last quarter. Finally, Wulff Hansen & CO. grew its stake in Eaton by 31,255.0% during the 2nd quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock valued at $149,928,000 after acquiring an additional 476,639 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Up 0.8 %

Shares of Eaton stock opened at $338.25 on Thursday. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The company has a market capitalization of $135.23 billion, a P/E ratio of 39.94, a PEG ratio of 2.53 and a beta of 1.02. The company’s fifty day moving average is $305.05 and its two-hundred day moving average is $315.05.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.12. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. Analysts forecast that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.11%. The ex-dividend date was Monday, August 5th. Eaton’s payout ratio is 44.39%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Jefferies Financial Group upped their price objective on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Wells Fargo & Company increased 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. Morgan Stanley initiated coverage on shares of 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 dropped their price target on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Finally, Royal Bank of Canada lowered their price objective on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $339.47.

Insider Activity

In other news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the sale, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were 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 owns 9,900 shares in the company, valued at $2,858,328. This trade 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 at this link. Also, Director Karenann K. Terrell acquired 500 shares of Eaton stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average price of $298.97 per share, with a total value of $149,485.00. Following the purchase, the director now directly owns 500 shares of the company’s stock, valued at approximately $149,485. The disclosure for this purchase can be found here. Insiders have sold a total of 52,511 shares of company stock valued at $15,809,326 over the last quarter. Corporate insiders own 0.53% of the company’s stock.

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.