Thompson Davis & CO. Inc. Purchases 300 Shares of Eaton Co. plc (NYSE:ETN)

Thompson Davis & CO. Inc. boosted its position in Eaton Co. plc (NYSE:ETN) by 46.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 950 shares of the industrial products company’s stock after buying an additional 300 shares during the period. Thompson Davis & CO. Inc.’s holdings in Eaton were worth $315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ETN. Breakwater Investment Management boosted its position in shares of Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 78 shares during the period. Proffitt & Goodson Inc. acquired a new stake in Eaton in the 2nd quarter worth about $29,000. LGT Financial Advisors LLC bought a new stake in Eaton in the 2nd quarter valued at about $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton during the 3rd quarter worth approximately $35,000. Finally, DiNuzzo Private Wealth Inc. bought a new position in shares of Eaton during the second quarter worth approximately $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ETN shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $374.00 price target on shares of Eaton in a research note on Friday, November 1st. Sanford C. Bernstein assumed coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price for the company. Citigroup started coverage on Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 price target on the stock. UBS Group began coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. Finally, 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. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $357.83.

Insider Activity

In related news, Director Dorothy C. Thompson purchased 2,205 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction that occurred on 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 transaction, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,705 shares of company stock valued at $24,516,346. Insiders own 0.33% of the company’s stock.

Eaton Stock Up 1.6 %

Shares of ETN opened at $363.66 on Wednesday. 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 52 week low of $224.52 and a 52 week high of $373.49. The stock has a market capitalization of $143.72 billion, a price-to-earnings ratio of 38.69, a PEG ratio of 2.85 and a beta of 1.01. The stock has a fifty day moving average of $338.69 and a 200-day moving average of $322.04.

Eaton (NYSE:ETN) last posted its 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. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the company earned $2.47 earnings per share. The business’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be given a $0.94 dividend. 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 (DPR) is currently 40.00%.

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.