Savvy Advisors Inc. Purchases 2,742 Shares of Eaton Co. plc (NYSE:ETN)

Savvy Advisors Inc. increased its position in shares of Eaton Co. plc (NYSE:ETN) by 249.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,840 shares of the industrial products company’s stock after buying an additional 2,742 shares during the period. Savvy Advisors Inc.’s holdings in Eaton were worth $1,273,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC raised its position in shares of Eaton by 2.2% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 24,676 shares of the industrial products company’s stock worth $8,179,000 after acquiring an additional 523 shares in the last quarter. Winslow Asset Management Inc. grew its stake in Eaton by 0.5% during the third quarter. Winslow Asset Management Inc. now owns 29,471 shares of the industrial products company’s stock worth $9,768,000 after purchasing an additional 154 shares during the period. Verus Capital Partners LLC increased its holdings in Eaton by 3.3% in the third quarter. Verus Capital Partners LLC now owns 1,710 shares of the industrial products company’s stock worth $567,000 after purchasing an additional 55 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Eaton by 2.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,422,189 shares of the industrial products company’s stock valued at $471,370,000 after buying an additional 40,078 shares during the period. Finally, WealthPlan Investment Management LLC bought a new position in shares of Eaton during the 3rd quarter worth approximately $264,000. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In other news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Eaton news, insider Craig Arnold sold 61,569 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction 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 transaction, the insider now owns 71,262 shares in the company, valued at $21,451,287.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,745 shares of company stock worth $39,278,367. 0.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ETN shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $374.00 price objective on shares of Eaton in a research note on Friday, November 1st. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Wells Fargo & Company boosted their target price on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Morgan Stanley started coverage on Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective for the company. Finally, Citigroup assumed coverage on Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $343.28.

Eaton Price Performance

ETN opened at $372.70 on Tuesday. 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 Co. plc has a 1 year low of $220.24 and a 1 year high of $373.39. The stock’s 50 day simple moving average is $329.60 and its 200 day simple moving average is $320.18. The firm has a market cap of $147.29 billion, a price-to-earnings ratio of 39.57, a PEG ratio of 2.94 and a beta of 1.01.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period last year, the company posted $2.47 EPS. Eaton’s revenue was up 7.9% on a year-over-year basis. As a group, analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio is presently 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.