725 Shares in Eaton Co. plc (NYSE:ETN) Bought by Elgethun Capital Management

Elgethun Capital Management purchased a new stake in shares of Eaton Co. plc (NYSE:ETN) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 725 shares of the industrial products company’s stock, valued at approximately $146,000.

Other large investors also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Eaton by 8.9% in the first quarter. State Street Corp now owns 16,538,340 shares of the industrial products company’s stock valued at $2,833,676,000 after acquiring an additional 1,358,584 shares in the last quarter. Morgan Stanley boosted its holdings in Eaton by 26.2% in the 4th quarter. Morgan Stanley now owns 12,542,343 shares of the industrial products company’s stock valued at $1,968,521,000 after purchasing an additional 2,602,246 shares during the last quarter. FMR LLC increased its stake in Eaton by 208.8% during the first quarter. FMR LLC now owns 10,075,604 shares of the industrial products company’s stock worth $1,726,354,000 after acquiring an additional 6,812,750 shares during the last quarter. Geode Capital Management LLC raised its holdings in Eaton by 2.0% in the 1st quarter. Geode Capital Management LLC now owns 7,084,548 shares of the industrial products company’s stock valued at $1,210,672,000 after buying an additional 136,334 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Eaton by 5.0% in the third quarter. Bank of New York Mellon Corp now owns 6,369,719 shares of the industrial products company’s stock valued at $849,465,000 after buying an additional 302,429 shares during the last quarter. 81.02% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Performance

Shares of NYSE:ETN traded down $0.81 during midday trading on Tuesday, hitting $226.11. The stock had a trading volume of 438,145 shares, compared to its average volume of 2,063,275. Eaton Co. plc has a 1 year low of $150.86 and a 1 year high of $240.44. The stock has a 50 day moving average price of $212.88 and a two-hundred day moving average price of $205.17. The company has a market capitalization of $90.29 billion, a PE ratio of 30.38, a P/E/G ratio of 2.18 and a beta of 1.07. The company has a current ratio of 1.45, a quick ratio of 0.96 and a debt-to-equity ratio of 0.44.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.13. The business had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.89 billion. Eaton had a net margin of 13.24% and a return on equity of 19.49%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period last year, the company posted $2.02 EPS. As a group, equities analysts predict that Eaton Co. plc will post 9.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Monday, November 6th will be paid a dividend of $0.86 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $3.44 annualized dividend and a yield of 1.52%. Eaton’s dividend payout ratio is presently 46.05%.

Insider Transactions at Eaton

In other Eaton news, insider Taras G. Jr. Szmagala sold 1,869 shares of the stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $226.68, for a total transaction of $423,664.92. Following the transaction, the insider now directly owns 7,431 shares in the company, valued at approximately $1,684,459.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Thomas B. Okray sold 4,950 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $231.09, for a total transaction of $1,143,895.50. Following the transaction, the insider now directly owns 7,367 shares in the company, valued at $1,702,440.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Taras G. Jr. Szmagala sold 1,869 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $226.68, for a total transaction of $423,664.92. Following the sale, the insider now owns 7,431 shares of the company’s stock, valued at approximately $1,684,459.08. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ETN shares. JPMorgan Chase & Co. raised Eaton from a “neutral” rating to an “overweight” rating and set a $230.00 target price on the stock in a research report on Friday, October 6th. Wells Fargo & Company dropped their target price on Eaton from $228.00 to $210.00 in a research report on Monday, October 9th. StockNews.com assumed coverage on shares of Eaton in a report on Thursday, October 5th. They issued a “buy” rating for the company. Barclays increased their target price on shares of Eaton from $185.00 to $187.00 and gave the stock an “underweight” rating in a report on Wednesday, November 1st. Finally, Argus upped their price objective on Eaton from $195.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $219.23.

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.