Foster & Motley Inc. Has $2.59 Million Holdings in Eaton Co. plc (NYSE:ETN)

Foster & Motley Inc. decreased its stake in shares of Eaton Co. plc (NYSE:ETN) by 6.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,821 shares of the industrial products company’s stock after selling 520 shares during the quarter. Foster & Motley Inc.’s holdings in Eaton were worth $2,592,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. IAM Advisory LLC bought a new stake in shares of Eaton in the 2nd quarter worth approximately $599,000. Envestnet Portfolio Solutions Inc. boosted its stake in Eaton by 19.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock worth $24,616,000 after buying an additional 12,689 shares in the last quarter. Interval Partners LP raised its stake in shares of Eaton by 82.7% in the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock valued at $47,571,000 after buying an additional 68,693 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Eaton by 302.4% during the 1st quarter. Empowered Funds LLC now owns 23,273 shares of the industrial products company’s stock worth $7,277,000 after acquiring an additional 17,490 shares during the period. Finally, Avantax Advisory Services Inc. boosted its position in shares of Eaton by 40.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 19,513 shares of the industrial products company’s stock valued at $6,101,000 after acquiring an additional 5,634 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on ETN shares. Morgan Stanley initiated coverage on shares of Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $374.00 target price on shares of Eaton in a report on Friday, November 1st. Sanford C. Bernstein began coverage on Eaton in a research note on Tuesday. They issued an “outperform” rating and a $382.00 price target on the stock. Jefferies Financial Group increased their price objective on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Citigroup initiated coverage on shares of Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 target price on the stock. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and a consensus target price of $343.28.

Eaton Trading Up 6.5 %

ETN opened at $359.26 on Thursday. The firm has a 50 day simple moving average of $325.92 and a 200 day simple moving average of $319.05. Eaton Co. plc has a fifty-two week low of $214.03 and a fifty-two week high of $366.08. The company has a market cap of $141.98 billion, a price-to-earnings ratio of 38.22, a price-to-earnings-growth ratio of 2.55 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 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 net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the company posted $2.47 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Eaton Co. plc will post 10.78 earnings per share for the current year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be given a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.05%. Eaton’s payout ratio is currently 40.00%.

Insider Activity

In other news, Director Dorothy C. Thompson acquired 2,205 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased 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 owns 2,205 shares in the company, valued at $662,161.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Eaton news, Director Dorothy C. Thompson bought 2,205 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares in the company, valued at approximately $17,241,796.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,511 shares of company stock valued at $17,150,526 in the last ninety days. 0.53% of the stock is owned by 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.