Callahan Advisors LLC Buys 397 Shares of Eaton Co. plc (NYSE:ETN)

Callahan Advisors LLC raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 2.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 18,908 shares of the industrial products company’s stock after purchasing an additional 397 shares during the period. Callahan Advisors LLC’s holdings in Eaton were worth $6,267,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Breakwater Investment Management lifted its position in Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 78 shares during the last quarter. Proffitt & Goodson Inc. bought a new stake in shares of Eaton in the 2nd quarter worth approximately $29,000. LGT Financial Advisors LLC bought a new stake in shares of Eaton in the 2nd quarter worth approximately $33,000. West Financial Advisors LLC bought a new stake in shares of Eaton in the 3rd quarter worth approximately $35,000. Finally, DT Investment Partners LLC bought a new stake in shares of Eaton in the 3rd quarter worth approximately $37,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ETN has been the subject of a number of recent research reports. Mizuho boosted their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Barclays decreased their target price on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Morgan Stanley initiated coverage on shares of Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Finally, Evercore ISI decreased their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $343.28.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the transaction, the director now owns 51,422 shares in the company, valued at $17,241,796.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the transaction, the insider now owns 71,262 shares in the company, valued at approximately $21,451,287.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,511 shares of company stock valued at $17,150,526 in the last three months. 0.33% of the stock is currently owned by company insiders.

Eaton Stock Up 2.0 %

Shares of Eaton stock opened at $337.59 on Wednesday. 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 company’s fifty day simple moving average is $324.60 and its two-hundred day simple moving average is $318.76. The company has a market cap of $133.42 billion, a P/E ratio of 35.91, a PEG ratio of 2.55 and a beta of 1.01. Eaton Co. plc has a 12-month low of $211.99 and a 12-month high of $349.74.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.47 EPS. Research analysts anticipate that Eaton Co. plc will post 10.78 EPS for the current year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio is presently 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.