Arthur M. Cohen & Associates LLC Buys 1,958 Shares of Eaton Co. plc (NYSE:ETN)

Arthur M. Cohen & Associates LLC raised its position in Eaton Co. plc (NYSE:ETN) by 55.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,463 shares of the industrial products company’s stock after acquiring an additional 1,958 shares during the quarter. Arthur M. Cohen & Associates LLC’s holdings in Eaton were worth $1,790,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital World Investors raised its stake in Eaton by 323.8% in the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after buying an additional 2,439,270 shares during the period. International Assets Investment Management LLC lifted its holdings in Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after purchasing an additional 1,070,024 shares during the last quarter. Swedbank AB bought a new position in Eaton during the second quarter worth $225,974,000. Assenagon Asset Management S.A. boosted its holdings in shares of Eaton by 1,604.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock worth $211,201,000 after buying an additional 634,059 shares during the period. Finally, Wulff Hansen & CO. grew its position in shares of Eaton by 31,255.0% in the second quarter. Wulff Hansen & CO. now owns 478,164 shares of the industrial products company’s stock valued at $149,928,000 after purchasing an additional 476,639 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Evercore ISI cut their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Barclays reduced their price target on Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research report on Friday. Jefferies Financial Group increased their target price on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Morgan Stanley started coverage on Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target for the company. Finally, Wells Fargo & Company raised their target price on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $343.28.

Insider Activity

In related news, Director Dorothy C. Thompson acquired 2,205 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the purchase, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The purchase was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction dated 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the acquisition, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 56,511 shares of company stock valued at $17,150,526. Company insiders own 0.33% of the company’s stock.

Eaton Trading Down 0.9 %

NYSE ETN opened at $331.13 on Tuesday. Eaton Co. plc has a twelve month low of $211.99 and a twelve month high of $349.74. The business’s fifty day moving average is $323.78 and its 200 day moving average is $318.52. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The company has a market cap of $130.86 billion, a price-to-earnings ratio of 35.23, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the firm posted $2.47 earnings per share. As a group, sell-side analysts expect that Eaton Co. plc will post 10.78 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.14%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

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.