Howe & Rusling Inc. Boosts Stake in Eaton Co. plc (NYSE:ETN)

Howe & Rusling Inc. lifted its position in Eaton Co. plc (NYSE:ETN) by 8.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 900 shares of the industrial products company’s stock after acquiring an additional 70 shares during the period. Howe & Rusling Inc.’s holdings in Eaton were worth $298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ETN. Kirtland Hills Capital Management LLC purchased a new position in shares of Eaton in the third quarter worth about $259,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Eaton in the third quarter worth $6,632,000. Prospera Private Wealth LLC raised its holdings in shares of Eaton by 4.8% during the third quarter. Prospera Private Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after purchasing an additional 41 shares during the last quarter. Thompson Davis & CO. Inc. lifted its position in Eaton by 46.2% during the third quarter. Thompson Davis & CO. Inc. now owns 950 shares of the industrial products company’s stock valued at $315,000 after purchasing an additional 300 shares during the period. Finally, West Family Investments Inc. boosted its holdings in Eaton by 17.3% in the third quarter. West Family Investments Inc. now owns 1,862 shares of the industrial products company’s stock valued at $617,000 after purchasing an additional 274 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other news, insider Craig Arnold sold 61,569 shares of the business’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 completion of the transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dorothy C. Thompson bought 2,205 shares of Eaton stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the acquisition, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 68,705 shares of company stock valued at $24,516,346 in the last three months. 0.33% of the stock is owned by corporate insiders.

Eaton Trading Down 0.9 %

Shares of Eaton stock opened at $360.46 on Thursday. Eaton Co. plc has a fifty-two week low of $224.52 and a fifty-two week high of $373.49. 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 firm has a market capitalization of $142.45 billion, a price-to-earnings ratio of 38.35, a PEG ratio of 2.85 and a beta of 1.01. The stock has a 50 day moving average of $339.96 and a 200 day moving average of $322.31.

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

Eaton Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.04%. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Bank of America boosted their price objective on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Wells Fargo & Company upped their price objective on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $374.00 target price on shares of Eaton in a research note on Friday, November 1st. Citigroup initiated coverage on Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 price target for the company. Finally, Raymond James dropped their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and an average target price of $357.83.

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.