Cerity Partners LLC Raises Position in Eaton Co. plc (NYSE:ETN)

Cerity Partners LLC lifted its position in shares of Eaton Co. plc (NYSE:ETN) by 30.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 110,319 shares of the industrial products company’s stock after purchasing an additional 25,434 shares during the period. Cerity Partners LLC’s holdings in Eaton were worth $36,564,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Breakwater Investment Management lifted its position 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 worth $26,000 after purchasing an additional 78 shares during the last quarter. Proffitt & Goodson Inc. purchased a new stake in shares of Eaton during the 2nd quarter worth $29,000. LGT Financial Advisors LLC purchased a new stake in shares of Eaton during the 2nd quarter worth $33,000. West Financial Advisors LLC purchased a new stake in shares of Eaton during the 3rd quarter worth $35,000. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in shares of Eaton during the 2nd quarter worth $37,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eaton

In other news, Director Dorothy C. Thompson acquired 2,205 shares of Eaton stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired 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 of the company’s stock, valued at approximately $662,161.50. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,705 shares of company stock valued at $24,516,346 over the last quarter. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ETN shares. Morgan Stanley started coverage on shares of Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target for the company. Bank of America boosted their price target 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. Mizuho boosted their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Barclays reduced their price target on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Finally, Citigroup started coverage on shares of Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 price target for the company. 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $357.83.

Eaton Trading Up 1.7 %

Shares of Eaton stock opened at $377.41 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The company’s 50-day simple moving average is $342.75 and its 200-day simple moving average is $322.97. Eaton Co. plc has a 52-week low of $224.52 and a 52-week high of $378.00. The firm has a market cap of $149.15 billion, a price-to-earnings ratio of 40.15, a price-to-earnings-growth ratio of 2.94 and a beta of 1.01.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating 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 prior year, the firm earned $2.47 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 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.