Northwest & Ethical Investments L.P. Purchases 947 Shares of Eaton Co. plc (NYSE:ETN)

Northwest & Ethical Investments L.P. raised its position in shares of Eaton Co. plc (NYSE:ETN) by 7.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,664 shares of the industrial products company’s stock after purchasing an additional 947 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Eaton were worth $4,529,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in ETN. IAM Advisory LLC purchased a new stake in Eaton in the second quarter worth about $599,000. Interval Partners LP raised its holdings in shares of Eaton by 82.7% in 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 lifted its position in shares of Eaton by 285.5% in the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock worth $1,801,000 after purchasing an additional 4,254 shares during the period. B. Riley Wealth Advisors Inc. boosted its stake in shares of Eaton by 25.9% during 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 purchasing an additional 5,676 shares in the last quarter. Finally, Leavell Investment Management Inc. increased its holdings in Eaton by 67.6% during the second quarter. Leavell Investment Management Inc. now owns 8,556 shares of the industrial products company’s stock valued at $2,683,000 after buying an additional 3,452 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Eaton

In related news, insider Craig Arnold sold 61,569 shares of the firm’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 directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the transaction, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,981 shares of company stock worth $24,100,317 over the last 90 days. 0.53% of the stock is currently owned by company insiders.

Eaton Stock Performance

Shares of ETN stock opened at $371.98 on Friday. The business has a fifty day moving average of $347.47 and a 200 day moving average of $324.22. Eaton Co. plc has a 1 year low of $224.52 and a 1 year high of $379.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The firm has a market capitalization of $147.01 billion, a price-to-earnings ratio of 39.57, a price-to-earnings-growth ratio of 2.82 and a beta of 1.01.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the business posted $2.47 earnings per share. As a group, research analysts expect that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is currently 40.00%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ETN shares. Mizuho increased their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Sanford C. Bernstein initiated coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective on the stock. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Raymond James decreased their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Finally, Barclays cut their price objective on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Four equities research 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $357.83.

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.