Centaurus Financial Inc. Grows Stock Holdings in Eaton Co. plc (NYSE:ETN)

Centaurus Financial Inc. lifted its position in Eaton Co. plc (NYSE:ETN) by 61.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,978 shares of the industrial products company’s stock after buying an additional 754 shares during the quarter. Centaurus Financial Inc.’s holdings in Eaton were worth $655,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Breakwater Investment Management increased its stake in 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 purchasing an additional 78 shares during the period. Proffitt & Goodson Inc. purchased a new stake in Eaton during the 2nd quarter worth approximately $29,000. LGT Financial Advisors LLC acquired a new stake in Eaton during the 2nd quarter worth approximately $33,000. West Financial Advisors LLC purchased a new position in Eaton in the 3rd quarter valued at approximately $35,000. Finally, DiNuzzo Private Wealth Inc. acquired a new position in shares of Eaton in the second quarter worth $37,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Bank of America increased their price objective on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Morgan Stanley assumed coverage on Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Citigroup began coverage on Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price objective for the company. Mizuho lifted their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Barclays lowered their price target on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $357.83.

Insider Transactions at Eaton

In other Eaton news, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the transaction, the insider now directly owns 3,914 shares in the company, valued at approximately $1,186,411.68. This represents a 44.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dorothy C. Thompson purchased 2,205 shares of Eaton stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 68,705 shares of company stock valued at $24,516,346. Corporate insiders own 0.33% of the company’s stock.

Eaton Trading Down 0.2 %

NYSE:ETN opened at $376.56 on Tuesday. Eaton Co. plc has a 12-month low of $224.52 and a 12-month high of $379.12. 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’s 50 day simple moving average is $344.15 and its 200-day simple moving average is $323.22. The firm has a market cap of $148.81 billion, a P/E ratio of 40.06, a PEG ratio of 2.99 and a beta of 1.01.

Eaton (NYSE:ETN) last announced its quarterly earnings data 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 analysts’ expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. Eaton’s revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.47 EPS. Equities analysts anticipate that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s payout ratio is 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.