Eaton Co. plc (NYSE:ETN) Shares Purchased by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC lifted its stake in Eaton Co. plc (NYSE:ETN) by 493.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,768 shares of the industrial products company’s stock after acquiring an additional 8,121 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Eaton were worth $3,237,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ETN. Breakwater Investment Management lifted its holdings in Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after buying an additional 78 shares in the last quarter. Proffitt & Goodson Inc. acquired a new stake in Eaton during the 2nd quarter worth approximately $29,000. LGT Financial Advisors LLC purchased a new stake in shares of Eaton in the 2nd quarter valued at approximately $33,000. West Financial Advisors LLC purchased a new stake in shares of Eaton in the 3rd quarter valued at approximately $35,000. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in shares of Eaton in the 2nd quarter valued at approximately $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Up 1.0 %

ETN stock opened at $335.00 on Friday. Eaton Co. plc has a one year low of $211.99 and a one year high of $349.74. The stock has a market capitalization of $133.36 billion, a PE ratio of 36.85, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The company has a fifty day moving average of $323.09 and a 200-day moving average of $318.29.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter last year, the business earned $2.47 EPS. The business’s revenue was up 7.9% on a year-over-year basis. As a group, analysts expect that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is 41.36%.

Insider Activity at Eaton

In related news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the sale, the insider now owns 9,900 shares in the company, valued at $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the transaction, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,511 shares of company stock worth $15,809,326 over the last 90 days. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of recent analyst reports. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Morgan Stanley started coverage on shares of Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective on the stock. Raymond James dropped their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Jefferies Financial Group increased their target price on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $374.00 target price on shares of Eaton in a research report on Friday. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $341.00.

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.