Charles Schwab Investment Management Inc. Buys 3,528 Shares of Eaton Co. plc (NYSE:ETN)

Charles Schwab Investment Management Inc. lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 0.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,218,428 shares of the industrial products company’s stock after acquiring an additional 3,528 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.56% of Eaton worth $735,276,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ETN. Legal & General Group Plc lifted its position in shares of Eaton by 0.6% in the second quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock valued at $1,005,317,000 after acquiring an additional 18,077 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Eaton by 2.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,422,189 shares of the industrial products company’s stock valued at $471,370,000 after purchasing an additional 40,078 shares during the period. Janus Henderson Group PLC raised its stake in Eaton by 15.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock valued at $412,108,000 after purchasing an additional 176,571 shares during the period. International Assets Investment Management LLC lifted its holdings in Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after purchasing an additional 1,070,024 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Eaton by 8.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 923,033 shares of the industrial products company’s stock worth $305,930,000 after purchasing an additional 74,415 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Eaton news, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at $1,186,411.68. The trade was a 44.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 68,705 shares of company stock worth $24,516,346 over the last quarter. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Mizuho boosted their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. 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 target on the stock. Barclays cut 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. Raymond James decreased their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Finally, Wells Fargo & Company increased their price target on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $357.83.

Eaton Trading Up 2.9 %

ETN stock opened at $371.08 on Friday. The firm’s fifty day simple moving average is $341.32 and its two-hundred day simple moving average is $322.65. The stock has a market capitalization of $146.65 billion, a price-to-earnings ratio of 39.48, a price-to-earnings-growth ratio of 2.89 and a beta of 1.01. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a twelve month low of $224.52 and a twelve month high of $373.49.

Eaton (NYSE:ETN) last issued 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 net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the firm posted $2.47 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. As a group, analysts anticipate that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

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.