Financial Counselors Inc. Has $60.54 Million Holdings in Eaton Co. plc (NYSE:ETN)

Financial Counselors Inc. raised its stake in Eaton Co. plc (NYSE:ETN) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 182,663 shares of the industrial products company’s stock after acquiring an additional 2,049 shares during the quarter. Eaton makes up approximately 0.9% of Financial Counselors Inc.’s investment portfolio, making the stock its 28th largest position. Financial Counselors Inc.’s holdings in Eaton were worth $60,542,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Eaton by 253.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after purchasing an additional 1,629,856 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Eaton by 11.2% during the third quarter. Public Sector Pension Investment Board now owns 465,065 shares of the industrial products company’s stock worth $154,141,000 after buying an additional 46,720 shares in the last quarter. Fiduciary Trust Co increased its holdings in shares of Eaton by 26.6% during the third quarter. Fiduciary Trust Co now owns 25,221 shares of the industrial products company’s stock worth $8,359,000 after buying an additional 5,303 shares in the last quarter. Providence Capital Advisors LLC boosted its holdings in shares of Eaton by 0.9% during the 3rd quarter. Providence Capital Advisors LLC now owns 19,146 shares of the industrial products company’s stock valued at $6,346,000 after acquiring an additional 178 shares in the last quarter. Finally, First Commonwealth Financial Corp PA bought a new stake in Eaton during the 3rd quarter worth $368,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Price Performance

Eaton stock opened at $371.97 on Thursday. The stock’s 50 day moving average price is $346.61 and its two-hundred day moving average price is $323.89. The stock has a market capitalization of $147.00 billion, a price-to-earnings ratio of 39.57, a PEG ratio of 2.99 and a beta of 1.01. 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 Co. plc has a 52-week low of $224.52 and a 52-week high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period last year, the company posted $2.47 earnings per share. The business’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is currently 40.00%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wells Fargo & Company increased their target price on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Sanford C. Bernstein started coverage on shares of Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Morgan Stanley assumed 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. Mizuho lifted their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Citigroup assumed coverage on Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective for the company. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average target price of $357.83.

Insiders Place Their Bets

In other news, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the transaction, the director now directly owns 51,422 shares in the company, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the acquisition, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 66,981 shares of company stock worth $24,100,317. Corporate insiders own 0.33% of the company’s stock.

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.