Pegasus Partners Ltd. Purchases 320 Shares of Eaton Co. plc (NYSE:ETN)

Pegasus Partners Ltd. boosted its position in Eaton Co. plc (NYSE:ETN) by 14.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,542 shares of the industrial products company’s stock after purchasing an additional 320 shares during the period. Pegasus Partners Ltd.’s holdings in Eaton were worth $843,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. IAM Advisory LLC acquired a new position in shares of Eaton in the 2nd quarter valued at about $599,000. Interval Partners LP increased its holdings in Eaton by 82.7% in the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after purchasing an additional 68,693 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in Eaton by 40.6% in the first quarter. Avantax Advisory Services Inc. now owns 19,513 shares of the industrial products company’s stock valued at $6,101,000 after buying an additional 5,634 shares during the period. Scientech Research LLC boosted its holdings 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 worth $1,801,000 after buying an additional 4,254 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Eaton by 6.5% during the 1st quarter. Sei Investments Co. now owns 283,757 shares of the industrial products company’s stock worth $88,724,000 after buying an additional 17,285 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In related 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 sale, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Craig Arnold sold 61,569 shares of Eaton 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 completion of the sale, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,080 shares of company stock worth $39,375,088. Insiders own 0.33% of the company’s stock.

Eaton Stock Up 1.7 %

Eaton stock opened at $366.77 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The stock has a market cap of $144.95 billion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 2.66 and a beta of 1.01. Eaton Co. plc has a fifty-two week low of $217.61 and a fifty-two week high of $369.29. The firm’s 50-day simple moving average is $328.30 and its 200 day simple moving average is $319.74.

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

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is currently 40.00%.

Analyst Ratings Changes

ETN has been the topic of several research analyst reports. Barclays cut their target price on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Sanford C. Bernstein started coverage on shares of Eaton in a research report on Tuesday. They set an “outperform” rating and a $382.00 price objective on the stock. Mizuho boosted 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. Citigroup assumed coverage on Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 price target on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $374.00 price objective on shares of Eaton in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $343.28.

Eaton 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.