Eaton Co. plc (NYSE:ETN) Shares Purchased by Brookstone Capital Management

Brookstone Capital Management grew its position in shares of Eaton Co. plc (NYSE:ETN) by 6.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,766 shares of the industrial products company’s stock after purchasing an additional 173 shares during the quarter. Brookstone Capital Management’s holdings in Eaton were worth $917,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Breakwater Investment Management lifted its stake in Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after buying an additional 78 shares during the last quarter. Atwood & Palmer Inc. boosted its stake in Eaton by 142.9% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 50 shares during the period. Proffitt & Goodson Inc. purchased a new position in Eaton during the 2nd quarter worth $29,000. Redmont Wealth Advisors LLC acquired a new position in Eaton in the first quarter valued at $33,000. Finally, LGT Financial Advisors LLC purchased a new stake in shares of Eaton in the second quarter valued at about $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ETN shares. Jefferies Financial Group boosted their price target on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Barclays increased their price target on Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada cut 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. 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. Finally, Citigroup assumed coverage on shares of Eaton in a report on Monday, September 16th. They set a “buy” rating and a $348.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $339.47.

Insider Activity at Eaton

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 transaction of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Karenann K. Terrell purchased 500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was acquired at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at $149,485. The disclosure for this purchase can be found here. In the last quarter, insiders sold 52,511 shares of company stock valued at $15,809,326. 0.53% of the stock is owned by insiders.

Eaton Stock Performance

NYSE:ETN opened at $341.39 on Friday. Eaton Co. plc has a twelve month low of $191.82 and a twelve month high of $345.19. The company has a market capitalization of $135.91 billion, a P/E ratio of 37.56, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $307.72 and a two-hundred day moving average price of $315.60.

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 firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. As a group, research analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio is presently 41.36%.

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.