River Street Advisors LLC Purchases 227 Shares of Eaton Co. plc (NYSE:ETN)

River Street Advisors LLC raised its position in Eaton Co. plc (NYSE:ETN) by 3.7% during the third quarter, Holdings Channel reports. The fund owned 6,361 shares of the industrial products company’s stock after acquiring an additional 227 shares during the period. Eaton comprises approximately 1.1% of River Street Advisors LLC’s investment portfolio, making the stock its 22nd biggest position. River Street Advisors LLC’s holdings in Eaton were worth $2,108,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. KPP Advisory Services LLC boosted its holdings in shares of Eaton by 128.2% in the third quarter. KPP Advisory Services LLC now owns 1,773 shares of the industrial products company’s stock worth $588,000 after buying an additional 996 shares during the last quarter. Maxwell Wealth Strategies Inc. boosted its stake in shares of Eaton by 51.9% during the 3rd quarter. Maxwell Wealth Strategies Inc. now owns 22,088 shares of the industrial products company’s stock worth $7,454,000 after acquiring an additional 7,545 shares during the last quarter. Natixis Advisors LLC grew its position in shares of Eaton by 24.5% during the 3rd quarter. Natixis Advisors LLC now owns 671,928 shares of the industrial products company’s stock valued at $222,704,000 after acquiring an additional 132,245 shares during the period. Mizuho Securities USA LLC raised its holdings in Eaton by 2.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 31,709 shares of the industrial products company’s stock worth $10,510,000 after purchasing an additional 884 shares during the period. Finally, Meridian Investment Counsel Inc. raised its stake in shares of Eaton by 4.0% in the third quarter. Meridian Investment Counsel Inc. now owns 1,300 shares of the industrial products company’s stock worth $431,000 after buying an additional 50 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eaton

In other Eaton news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the sale, the insider now owns 3,914 shares in the company, valued at approximately $1,186,411.68. This represents a 44.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,705 shares of company stock worth $24,516,346. 0.53% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ETN shares. Mizuho raised their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Bank of America upped their target price on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays dropped their price target on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Citigroup started coverage on Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price objective on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $374.00 target price on shares of Eaton in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average price target of $357.83.

Eaton Stock Down 0.8 %

Eaton stock traded down $2.87 during mid-day trading on Friday, reaching $358.99. 2,232,026 shares of the company were exchanged, compared to its average volume of 2,112,767. The firm has a market cap of $141.87 billion, a P/E ratio of 38.19, a PEG ratio of 2.96 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton Co. plc has a 12-month low of $224.52 and a 12-month high of $373.49. The business has a fifty day moving average of $335.82 and a 200 day moving average of $321.35.

Eaton (NYSE:ETN) last released its quarterly earnings results 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. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.47 earnings per share. Research analysts anticipate that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid 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 yield of 1.05%. Eaton’s dividend payout ratio (DPR) is 40.00%.

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.