Eaton Co. plc (NYSE:ETN) Shares Bought by Natixis Advisors LLC

Natixis Advisors LLC grew its stake in Eaton Co. plc (NYSE:ETN) by 24.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 671,928 shares of the industrial products company’s stock after buying an additional 132,245 shares during the quarter. Natixis Advisors LLC owned 0.17% of Eaton worth $222,704,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Strategic Wealth Partners Ltd. boosted its position in Eaton by 3.0% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 30 shares in the last quarter. Fairfield Financial Advisors LTD boosted its holdings in Eaton by 16.2% during the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after buying an additional 30 shares in the last quarter. Legacy Capital Group California Inc. grew its position in Eaton by 1.2% during the second quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock valued at $870,000 after buying an additional 32 shares during the period. Venturi Wealth Management LLC increased its holdings in Eaton by 2.1% in the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock valued at $513,000 after buying an additional 32 shares in the last quarter. Finally, Well Done LLC raised its position in shares of Eaton by 1.3% in the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock worth $800,000 after acquiring an additional 33 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Trading Down 0.8 %

NYSE ETN opened at $358.99 on Friday. Eaton Co. plc has a 12 month low of $224.52 and a 12 month high of $373.49. The firm’s 50-day moving average is $335.82 and its two-hundred day moving average is $321.35. The stock has a market capitalization of $141.87 billion, a P/E ratio of 38.19, a PEG ratio of 2.96 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period last year, the firm earned $2.47 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be issued a $0.94 dividend. The ex-dividend date is 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 Activity at Eaton

In related news, insider Michael Yelton sold 3,136 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now directly owns 3,914 shares in the company, valued at $1,186,411.68. The trade was a 44.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karenann K. Terrell bought 500 shares of the company’s stock in a transaction on 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 acquisition, the director now directly owns 500 shares in the company, valued at $149,485. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold 68,705 shares of company stock worth $24,516,346 over the last 90 days. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ETN. UBS Group began coverage on Eaton in a research report on Wednesday. They set a “buy” rating and a $431.00 target price on the stock. Barclays dropped their price objective on Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Wells Fargo & Company upped their target price on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $374.00 price target on shares of Eaton in a research note on Friday, November 1st. Finally, Raymond James reduced their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and a consensus target price of $357.83.

Eaton 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.