Eaton Co. plc (NYSE:ETN) Holdings Raised by Sycomore Asset Management

Sycomore Asset Management increased its position in shares of Eaton Co. plc (NYSE:ETN) by 0.5% during the third quarter, Holdings Channel.com reports. The fund owned 38,778 shares of the industrial products company’s stock after acquiring an additional 189 shares during the quarter. Eaton accounts for approximately 1.9% of Sycomore Asset Management’s investment portfolio, making the stock its 13th largest position. Sycomore Asset Management’s holdings in Eaton were worth $12,914,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Breakwater Investment Management lifted its holdings in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares during the last quarter. Proffitt & Goodson Inc. acquired a new stake in Eaton during the 2nd quarter worth $29,000. LGT Financial Advisors LLC acquired a new position in shares of Eaton in the 2nd quarter valued at $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton in the 3rd quarter valued at $35,000. Finally, DT Investment Partners LLC bought a new stake in Eaton in the 3rd quarter valued at $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Eaton

In other Eaton news, Director Karenann K. Terrell bought 500 shares of Eaton stock in a transaction on Wednesday, August 21st. The stock was purchased 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 directly owns 500 shares of the company’s stock, valued at $149,485. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Dorothy C. Thompson purchased 2,205 shares of the business’s stock in a transaction 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 purchase, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karenann K. Terrell purchased 500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the transaction, the director now owns 500 shares of the company’s stock, valued at $149,485. The disclosure for this purchase can be found here. Insiders have sold a total of 68,705 shares of company stock worth $24,516,346 in the last ninety days. 0.53% of the stock is owned by insiders.

Eaton Stock Down 1.2 %

Shares of NYSE:ETN traded down $4.26 during trading on Thursday, hitting $365.40. The company’s stock had a trading volume of 601,964 shares, compared to its average volume of 2,106,731. The company has a market capitalization of $144.41 billion, a PE ratio of 39.35, a P/E/G ratio of 2.96 and a beta of 1.01. The business has a 50 day moving average price of $332.81 and a two-hundred day moving average price of $320.84. Eaton Co. plc has a fifty-two week low of $224.52 and a fifty-two week high of $373.49. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping 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 for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.47 earnings per share. As a group, research analysts expect that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given a $0.94 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.03%. Eaton’s dividend payout ratio is presently 40.00%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Citigroup initiated coverage on shares of Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 price objective on the stock. Barclays reduced their price target on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Sanford C. Bernstein started coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective on the stock. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Bank of America boosted their price target on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price 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.