Mayflower Financial Advisors LLC Purchases 49 Shares of Eaton Co. plc (NYSE:ETN)

Mayflower Financial Advisors LLC boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 1.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,118 shares of the industrial products company’s stock after buying an additional 49 shares during the period. Mayflower Financial Advisors LLC’s holdings in Eaton were worth $1,033,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Breakwater Investment Management boosted its stake in shares of Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares during the period. Proffitt & Goodson Inc. purchased a new position in shares of Eaton during the second quarter valued at approximately $29,000. LGT Financial Advisors LLC bought a new position in shares of Eaton during the second quarter valued at approximately $33,000. West Financial Advisors LLC purchased a new stake in shares of Eaton in the third quarter worth approximately $35,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in shares of Eaton during the 2nd quarter worth approximately $37,000. 82.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eaton

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now owns 9,900 shares in the company, valued at $2,858,328. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the company’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 owns 506,360 shares in the company, valued at approximately $182,780,769.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 118,080 shares of company stock worth $39,375,088. 0.53% of the stock is owned by insiders.

Eaton Stock Up 1.7 %

NYSE:ETN opened at $366.67 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 capitalization of $144.91 billion, a P/E ratio of 39.01, a P/E/G ratio of 2.88 and a beta of 1.01. The company’s 50-day simple moving average is $328.30 and its 200-day simple moving average is $319.74. Eaton Co. plc has a fifty-two week low of $217.61 and a fifty-two week high of $369.29.

Eaton (NYSE:ETN) last released its quarterly earnings results 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 business had revenue of $6.35 billion for 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 business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.47 earnings per share. On average, equities analysts anticipate that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Dividend Announcement

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 given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.03%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Morgan Stanley assumed coverage on Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective on the stock. Raymond James decreased their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Royal Bank of Canada restated an “outperform” rating and issued a $374.00 target price on shares of Eaton in a research note on Friday, November 1st. Mizuho lifted their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Sanford C. Bernstein started coverage on Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective on the stock. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and an average price target of $343.28.

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.