Larson Financial Group LLC Grows Position in Eaton Co. plc (NYSE:ETN)

Larson Financial Group LLC increased its position in Eaton Co. plc (NYSE:ETN) by 3.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 13,606 shares of the industrial products company’s stock after purchasing an additional 482 shares during the period. Larson Financial Group LLC’s holdings in Eaton were worth $4,509,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. IAM Advisory LLC bought a new position in shares of Eaton in the 2nd quarter worth about $599,000. Interval Partners LP increased its stake in shares of Eaton by 82.7% during the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock valued at $47,571,000 after purchasing an additional 68,693 shares in the last quarter. Scientech Research LLC lifted its holdings in shares of Eaton by 285.5% during the second quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock valued at $1,801,000 after purchasing an additional 4,254 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of Eaton by 25.9% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 27,609 shares of the industrial products company’s stock worth $8,657,000 after purchasing an additional 5,676 shares in the last quarter. Finally, Leavell Investment Management Inc. grew its stake in shares of Eaton by 67.6% in the 2nd quarter. Leavell Investment Management Inc. now owns 8,556 shares of the industrial products company’s stock worth $2,683,000 after buying an additional 3,452 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 1.7 %

ETN opened at $377.41 on Friday. The firm’s 50 day simple moving average is $342.75 and its two-hundred day simple moving average is $322.97. The company has a market capitalization of $149.15 billion, a PE 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 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 announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Eaton’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $2.47 EPS. As a group, equities analysts forecast 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. Stockholders of record on Monday, November 4th were paid 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 (DPR) is presently 40.00%.

Wall Street Analyst Weigh In

ETN has been the topic of several analyst reports. Sanford C. Bernstein assumed coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. Citigroup initiated coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price objective on the stock. Wells Fargo & Company lifted their target price on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and increased their price target for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Finally, Morgan Stanley initiated coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective for the company. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Eaton has an average rating of “Moderate Buy” and a consensus price target of $357.83.

Insider Activity at Eaton

In related news, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the transaction, the director now directly owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now owns 506,360 shares in the company, valued at approximately $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 have sold 68,705 shares of company stock worth $24,516,346. 0.53% of the stock is owned by corporate insiders.

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.