Segall Bryant & Hamill LLC Makes New $6.63 Million Investment in Eaton Co. plc (NYSE:ETN)

Segall Bryant & Hamill LLC acquired a new stake in shares of Eaton Co. plc (NYSE:ETN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 20,010 shares of the industrial products company’s stock, valued at approximately $6,632,000.

A number of other hedge funds also recently made changes to their positions in ETN. Breakwater Investment Management lifted 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 valued at $26,000 after buying an additional 78 shares in the last quarter. Proffitt & Goodson Inc. bought a new stake in Eaton during the 2nd quarter valued at approximately $29,000. LGT Financial Advisors LLC purchased a new position in Eaton in the 2nd quarter worth approximately $33,000. West Financial Advisors LLC purchased a new stake in Eaton during the 3rd quarter valued at approximately $35,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in shares of Eaton during the second quarter valued at approximately $37,000. 82.97% of the stock is currently owned by institutional investors.

Insider Transactions at Eaton

In other news, Director Dorothy C. Thompson bought 2,205 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. The trade was a ∞ increase 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 stock in a transaction dated 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 transaction, the insider now directly owns 506,360 shares in the company, valued at $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. In the last quarter, insiders sold 68,705 shares of company stock valued at $24,516,346. Company insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

ETN has been the topic of a number of research reports. Raymond James reduced their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Barclays decreased their target price on Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Wells Fargo & Company lifted their price objective on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Morgan Stanley started coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price for the company. Finally, Bank of America increased their price objective on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $357.83.

Eaton Stock Up 2.9 %

NYSE:ETN opened at $371.08 on Friday. The company has a market cap of $146.65 billion, a price-to-earnings ratio of 39.48, a price-to-earnings-growth ratio of 2.89 and a beta of 1.01. Eaton Co. plc has a twelve month low of $224.52 and a twelve month high of $373.49. The stock has a fifty day simple moving average of $341.32 and a 200-day simple moving average of $322.65. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

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

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is 40.00%.

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.