Lowe Brockenbrough & Co. Inc. Has $17.45 Million Position in Eaton Co. plc (NYSE:ETN)

Lowe Brockenbrough & Co. Inc. lessened its position in Eaton Co. plc (NYSE:ETN) by 26.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,652 shares of the industrial products company’s stock after selling 18,488 shares during the quarter. Eaton makes up about 1.1% of Lowe Brockenbrough & Co. Inc.’s portfolio, making the stock its 21st biggest position. Lowe Brockenbrough & Co. Inc.’s holdings in Eaton were worth $17,451,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ETN. Americana Partners LLC boosted its stake in shares of Eaton by 3.7% during the 3rd quarter. Americana Partners LLC now owns 26,672 shares of the industrial products company’s stock worth $8,840,000 after buying an additional 948 shares during the last quarter. Gladstone Institutional Advisory LLC raised its holdings in Eaton by 493.1% during the third quarter. Gladstone Institutional Advisory LLC now owns 9,768 shares of the industrial products company’s stock worth $3,237,000 after acquiring an additional 8,121 shares in the last quarter. WT Asset Management Ltd boosted its position in Eaton by 3.6% during the third quarter. WT Asset Management Ltd now owns 137,200 shares of the industrial products company’s stock valued at $45,474,000 after purchasing an additional 4,740 shares during the last quarter. Focus Financial Network Inc. grew its stake in Eaton by 22.8% in the third quarter. Focus Financial Network Inc. now owns 2,197 shares of the industrial products company’s stock valued at $728,000 after purchasing an additional 408 shares in the last quarter. Finally, Fairfield Financial Advisors LTD boosted its holdings in shares of Eaton by 16.2% in the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after buying an additional 30 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of NYSE:ETN opened at $335.00 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. Eaton Co. plc has a 12-month low of $211.99 and a 12-month high of $349.74. The company’s 50 day moving average price is $323.09 and its two-hundred day moving average price is $318.29. The firm has a market cap of $133.36 billion, a PE ratio of 36.85, a PEG ratio of 2.62 and a beta of 1.02.

Eaton (NYSE:ETN) last issued 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. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. Eaton’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business earned $2.47 earnings per share. Equities research analysts predict that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Dividend Announcement

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

Insider Buying and Selling

In related news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction that occurred on 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 $2,858,328. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the sale, the insider now owns 9,900 shares in the company, valued at $2,858,328. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Karenann K. Terrell bought 500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was purchased at an average price of $298.97 per share, with a total value of $149,485.00. Following the completion of the transaction, the director now directly owns 500 shares of the company’s stock, valued at approximately $149,485. The disclosure for this purchase can be found here. Insiders sold a total of 52,511 shares of company stock worth $15,809,326 in the last ninety days. 0.53% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Raymond James lowered their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Mizuho upped their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday. Royal Bank of Canada reissued an “outperform” rating and set a $374.00 price target on shares of Eaton in a research report on Friday. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Evercore ISI decreased their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Four research 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, the company presently has an average rating of “Moderate Buy” and an average price target of $341.00.

Eaton Company 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.