Eaton Co. plc (NYSE:ETN) Holdings Raised by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 4.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,995 shares of the industrial products company’s stock after acquiring an additional 450 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Eaton were worth $3,313,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ETN. Summit Trail Advisors LLC grew its stake in Eaton by 16.1% in the third quarter. Summit Trail Advisors LLC now owns 5,079 shares of the industrial products company’s stock valued at $1,683,000 after purchasing an additional 703 shares in the last quarter. SevenBridge Financial Group LLC lifted its holdings in shares of Eaton by 17.2% during the 3rd quarter. SevenBridge Financial Group LLC now owns 3,793 shares of the industrial products company’s stock valued at $1,257,000 after buying an additional 558 shares during the last quarter. Centaurus Financial Inc. lifted its holdings in shares of Eaton by 61.6% during the 3rd quarter. Centaurus Financial Inc. now owns 1,978 shares of the industrial products company’s stock valued at $655,000 after buying an additional 754 shares during the last quarter. Alpha DNA Investment Management LLC bought a new stake in shares of Eaton in the 3rd quarter valued at approximately $891,000. Finally, Larson Financial Group LLC increased its holdings in Eaton by 3.7% in the third quarter. Larson Financial Group LLC now owns 13,606 shares of the industrial products company’s stock worth $4,509,000 after buying an additional 482 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Eaton

In other Eaton news, Director Dorothy C. Thompson acquired 2,205 shares of Eaton stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $300.30 per share, with a total value of $662,161.50. Following the acquisition, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Yelton sold 3,136 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the transaction, the insider now directly owns 3,914 shares of the company’s stock, valued at $1,186,411.68. This trade represents a 44.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,705 shares of company stock valued at $24,516,346. 0.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ETN has been the subject of several recent research reports. Morgan Stanley assumed coverage on shares of Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price for the company. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and upped their price objective for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. UBS Group initiated coverage on Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Wells Fargo & Company upped their price target on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Barclays lowered their price objective on Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average target price of $357.83.

Eaton Trading Up 1.7 %

Shares of Eaton stock opened at $377.41 on Friday. The company has a market cap of $149.15 billion, a price-to-earnings ratio of 40.15, a PEG ratio of 2.94 and a beta of 1.01. Eaton Co. plc has a 1 year low of $224.52 and a 1 year high of $378.00. The company’s fifty day simple moving average is $342.75 and its 200-day simple moving average is $322.97. 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 posted its quarterly earnings data 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. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the previous year, the firm posted $2.47 EPS. The business’s revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts expect that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were given a $0.94 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.00%. Eaton’s dividend payout ratio 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.