Eaton Co. plc (NYSE:ETN) Shares Purchased by Bouvel Investment Partners LLC

Bouvel Investment Partners LLC grew its holdings in shares of Eaton Co. plc (NYSE:ETN) by 0.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 14,679 shares of the industrial products company’s stock after acquiring an additional 85 shares during the quarter. Eaton comprises approximately 1.8% of Bouvel Investment Partners LLC’s holdings, making the stock its 18th largest position. Bouvel Investment Partners LLC’s holdings in Eaton were worth $4,865,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ETN. IAM Advisory LLC acquired a new position in shares of Eaton during the second quarter valued at approximately $599,000. Interval Partners LP boosted its stake in Eaton by 82.7% during the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock valued at $47,571,000 after purchasing an additional 68,693 shares in the last quarter. Scientech Research LLC increased its position in shares of Eaton by 285.5% during the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock valued at $1,801,000 after purchasing an additional 4,254 shares during the period. Prevail Innovative Wealth Advisors LLC bought a new stake in shares of Eaton in the 1st quarter worth $1,758,000. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in shares of Eaton by 25.9% in the second quarter. B. Riley Wealth Advisors Inc. now owns 27,609 shares of the industrial products company’s stock valued at $8,657,000 after buying an additional 5,676 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ETN. Wells Fargo & Company boosted their target price on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Morgan Stanley began coverage on Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and raised their price objective for the stock from $333.00 to $389.00 in a research note on Wednesday. Bank of America boosted their target price on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $357.83.

Eaton Stock Performance

Shares of ETN opened at $369.88 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 12 month low of $223.87 and a 12 month high of $373.49. The company’s fifty day moving average is $331.19 and its 200-day moving average is $320.50. The firm has a market cap of $146.18 billion, a price-to-earnings ratio of 39.35, a price-to-earnings-growth ratio of 2.96 and a beta of 1.01.

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

Eaton Dividend Announcement

The firm 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 of this dividend is Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.02%. Eaton’s dividend payout ratio is presently 40.00%.

Insider Activity at Eaton

In related news, Director Karenann K. Terrell acquired 500 shares of the stock in a transaction dated Wednesday, August 21st. The shares were acquired at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at approximately $149,485. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Karenann K. Terrell bought 500 shares of Eaton stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at approximately $149,485. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dorothy C. Thompson purchased 2,205 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the purchase, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The disclosure for this purchase can be found here. Insiders sold a total of 68,705 shares of company stock worth $24,516,346 in the last 90 days. 0.53% of the stock is owned by company insiders.

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.