North Star Investment Management Corp. Boosts Holdings in Eaton Co. plc (NYSE:ETN)

North Star Investment Management Corp. raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 0.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,978 shares of the industrial products company’s stock after purchasing an additional 41 shares during the period. North Star Investment Management Corp.’s holdings in Eaton were worth $2,644,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Breakwater Investment Management lifted its holdings 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 in the last quarter. Proffitt & Goodson Inc. purchased a new position in Eaton during the second quarter valued at $29,000. LGT Financial Advisors LLC purchased a new position in Eaton during the second quarter valued at $33,000. West Financial Advisors LLC purchased a new position in shares of Eaton in the third quarter worth about $35,000. Finally, DT Investment Partners LLC purchased a new position in shares of Eaton in the third quarter worth about $37,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Mizuho raised their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Jefferies Financial Group raised their price target on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $374.00 price target on shares of Eaton in a research note on Friday, November 1st. Citigroup began coverage on shares of Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 price target on the stock. Finally, Sanford C. Bernstein began coverage on shares of Eaton in a research report on Tuesday. They set an “outperform” rating and a $382.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average price target of $343.28.

Eaton Price Performance

Shares of ETN opened at $337.59 on Wednesday. Eaton Co. plc has a 1-year low of $211.99 and a 1-year high of $349.74. The stock has a market cap of $133.42 billion, a PE ratio of 35.91, a P/E/G ratio of 2.55 and a beta of 1.01. The firm has a 50-day simple moving average of $324.60 and a two-hundred day simple moving average of $318.76. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS 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 analyst estimates of $6.37 billion. During the same quarter last year, the firm posted $2.47 earnings per share. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, analysts forecast that Eaton Co. plc will post 10.78 EPS for the current year.

Eaton Announces Dividend

The firm also recently disclosed 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. This represents a $3.76 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s payout ratio is 40.00%.

Insider Activity

In other news, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction that occurred on 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 transaction, the insider now owns 9,900 shares in the company, valued at $2,858,328. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of Eaton 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 completion of the transaction, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,511 shares of company stock valued at $17,150,526. 0.33% of the stock is currently owned by company insiders.

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.