Crestwood Advisors Group LLC Grows Stake in Eaton Co. plc (NYSE:ETN)

Crestwood Advisors Group LLC increased its stake in Eaton Co. plc (NYSE:ETN) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,909 shares of the industrial products company’s stock after acquiring an additional 435 shares during the period. Crestwood Advisors Group LLC’s holdings in Eaton were worth $4,610,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in shares of Eaton by 0.6% during the second quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock valued at $1,005,317,000 after acquiring an additional 18,077 shares in the last quarter. 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 worth $998,255,000 after buying an additional 2,439,270 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Eaton by 15.5% in the first quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock worth $412,108,000 after purchasing an additional 176,571 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Eaton by 27,075.5% in the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after purchasing an additional 1,070,024 shares during the last quarter. Finally, National Pension Service grew its holdings in Eaton by 13.0% in the third quarter. National Pension Service now owns 865,820 shares of the industrial products company’s stock worth $286,967,000 after purchasing an additional 99,381 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Eaton news, Director Gregory R. Page sold 4,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 51,422 shares in the company, 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 this link. Also, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 71,262 shares in the company, valued at approximately $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. In 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.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ETN. Evercore ISI cut their price target on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Barclays lowered their price target on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Wells Fargo & Company upped their price objective on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Jefferies Financial Group upped their price objective on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $343.28.

Eaton Stock Performance

Eaton stock opened at $337.59 on Wednesday. The firm has a 50 day simple moving average of $324.60 and a 200-day simple moving average of $318.76. Eaton Co. plc has a 1-year low of $211.99 and a 1-year high of $349.74. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The stock has a market cap of $133.42 billion, a price-to-earnings ratio of 35.91, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the company posted $2.47 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts expect that Eaton Co. plc will post 10.78 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 given a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.11%. Eaton’s payout ratio is currently 40.00%.

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.