CFS Investment Advisory Services LLC Purchases 37 Shares of Eaton Co. plc (NYSE:ETN)

CFS Investment Advisory Services LLC grew its position in Eaton Co. plc (NYSE:ETN) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 712 shares of the industrial products company’s stock after acquiring an additional 37 shares during the period. CFS Investment Advisory Services LLC’s holdings in Eaton were worth $236,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ETN. Gamco Investors INC. ET AL grew its position in shares of Eaton by 4.2% in the 1st quarter. Gamco Investors INC. ET AL now owns 16,833 shares of the industrial products company’s stock valued at $5,263,000 after acquiring an additional 677 shares during the period. Steel Grove Capital Advisors LLC lifted its stake in shares of Eaton by 11.8% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 951 shares of the industrial products company’s stock worth $297,000 after buying an additional 100 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Eaton by 1.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 576,657 shares of the industrial products company’s stock worth $180,310,000 after buying an additional 8,153 shares during the last quarter. Fairview Capital Investment Management LLC acquired a new stake in shares of Eaton during the 1st quarter worth about $235,000. Finally, Ceeto Capital Group LLC acquired a new stake in shares of Eaton during the 1st quarter worth about $242,000. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In other Eaton news, Director Dorothy C. Thompson bought 2,205 shares of Eaton stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,705 shares of company stock valued at $24,516,346. 0.53% of the stock is owned by insiders.

Eaton Price Performance

Shares of NYSE:ETN opened at $377.41 on Friday. The firm has a 50 day moving average of $342.75 and a 200-day moving average of $323.00. The stock has a market capitalization of $149.15 billion, a PE ratio of 40.15, a PEG ratio of 2.89 and a beta of 1.01. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 12 month low of $224.52 and a 12 month high of $378.00.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.47 EPS. On average, equities research analysts predict that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Analyst Ratings Changes

A number of research firms have recently issued reports on ETN. Barclays cut their target price on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Sanford C. Bernstein began coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price for the company. Mizuho raised their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Citigroup assumed coverage on shares of Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus price target of $357.83.

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.