435 Shares in Eaton Co. plc (NYSE:ETN) Bought by Truvestments Capital LLC

Truvestments Capital LLC bought a new stake in Eaton Co. plc (NYSE:ETN) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 435 shares of the industrial products company’s stock, valued at approximately $144,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Bayesian Capital Management LP acquired a new stake in Eaton in the 1st quarter valued at approximately $600,000. Beacon Capital Management LLC increased its holdings in shares of Eaton by 81.4% during the first quarter. Beacon Capital Management LLC now owns 214 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 96 shares during the period. Advisory Resource Group raised its stake in shares of Eaton by 4.0% during the first quarter. Advisory Resource Group now owns 4,105 shares of the industrial products company’s stock valued at $1,284,000 after purchasing an additional 156 shares in the last quarter. Pacific Center for Financial Services acquired a new stake in Eaton in the first quarter worth about $585,000. Finally, Strategic Wealth Partners Ltd. lifted its holdings in Eaton by 8.7% in the first quarter. Strategic Wealth Partners Ltd. now owns 1,002 shares of the industrial products company’s stock worth $313,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Up 0.1 %

NYSE:ETN opened at $377.23 on Wednesday. The business’s fifty day moving average price is $345.46 and its 200 day moving average price is $323.55. The firm has a market capitalization of $149.08 billion, a price-to-earnings ratio of 40.13, a PEG ratio of 2.99 and a beta of 1.01. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 1-year low of $224.52 and a 1-year high of $379.99.

Eaton (NYSE:ETN) last issued its earnings results 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 company 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%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.47 EPS. On average, sell-side analysts forecast that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Raymond James cut their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. UBS Group initiated coverage on Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target on the stock. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and upped their price objective for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Finally, Wells Fargo & Company raised their target price on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Four 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 a consensus target price of $357.83.

Insider Transactions at Eaton

In other Eaton news, insider Craig Arnold sold 61,569 shares of the business’s 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 of the company’s stock, valued at $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now owns 31,200 shares in the company, valued at $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,117 shares of company stock valued at $25,050,901. 0.33% of the stock is owned by 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.