Great Valley Advisor Group Inc. Buys 4,056 Shares of Eaton Co. plc (NYSE:ETN)

Great Valley Advisor Group Inc. lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 92.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,433 shares of the industrial products company’s stock after purchasing an additional 4,056 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Eaton were worth $2,795,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Breakwater Investment Management increased its holdings in shares of Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after buying an additional 78 shares in the last quarter. Proffitt & Goodson Inc. bought a new position in Eaton in the second quarter valued at about $29,000. LGT Financial Advisors LLC acquired a new stake in shares of Eaton during the second quarter valued at about $33,000. West Financial Advisors LLC bought a new stake in shares of Eaton during the third quarter worth about $35,000. Finally, DiNuzzo Private Wealth Inc. acquired a new position in shares of Eaton in the second quarter valued at approximately $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Trading Up 1.7 %

NYSE:ETN opened at $377.41 on Monday. Eaton Co. plc has a 12 month low of $224.52 and a 12 month high of $378.00. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $149.15 billion, a price-to-earnings ratio of 40.15, a PEG ratio of 2.94 and a beta of 1.01. The firm has a fifty day simple moving average of $342.75 and a two-hundred day simple moving average of $322.91.

Eaton (NYSE:ETN) last issued its 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 company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the business posted $2.47 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts expect that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ETN. Sanford C. Bernstein started coverage on shares of Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Raymond James decreased their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Barclays lowered their price objective on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Finally, UBS Group initiated coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $357.83.

Insider Activity at Eaton

In related news, Director Dorothy C. Thompson bought 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 completion of the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now owns 3,914 shares of the company’s stock, valued at $1,186,411.68. This trade represents a 44.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,705 shares of company stock valued at $24,516,346. 0.53% of the stock is owned by company insiders.

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.