Sterling Investment Advisors Ltd. Grows Position in Eaton Co. plc (NYSE:ETN)

Sterling Investment Advisors Ltd. grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 28.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,583 shares of the industrial products company’s stock after acquiring an additional 1,669 shares during the period. Sterling Investment Advisors Ltd.’s holdings in Eaton were worth $2,513,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Breakwater Investment Management increased its holdings in Eaton by 1,560.0% in the second 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. acquired a new stake in shares of Eaton in the 2nd quarter worth approximately $29,000. LGT Financial Advisors LLC purchased a new position in Eaton in the 2nd quarter valued at approximately $33,000. Redmont Wealth Advisors LLC acquired a new position in Eaton during the first quarter worth $33,000. Finally, West Financial Advisors LLC purchased a new stake in Eaton during the third quarter worth $35,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Trading Down 0.2 %

Shares of ETN traded down $0.80 during trading hours on Friday, hitting $344.49. The stock had a trading volume of 1,176,378 shares, compared to its average volume of 1,416,014. Eaton Co. plc has a 12-month low of $193.77 and a 12-month high of $349.74. The firm has a market cap of $137.14 billion, a P/E ratio of 37.90, a P/E/G ratio of 2.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The company’s fifty day simple moving average is $318.89 and its 200 day simple moving average is $317.47.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Equities research analysts forecast that Eaton Co. plc will post 10.75 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio is presently 41.36%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Evercore ISI cut their price target on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Barclays upped their price target on shares of Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada dropped their price objective on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Citigroup started coverage on Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 target price on the stock. Finally, Morgan Stanley initiated coverage on Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price target for the company. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $340.06.

Insider Transactions at Eaton

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares in the company, valued at $2,858,328. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now owns 9,900 shares in the company, valued at $2,858,328. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karenann K. Terrell acquired 500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were bought at an average cost of $298.97 per share, with a total value of $149,485.00. Following the completion of the acquisition, the director now owns 500 shares in the company, valued at $149,485. The disclosure for this purchase can be found here. Insiders sold 52,511 shares of company stock valued at $15,809,326 over the last quarter. Company insiders own 0.53% of the company’s stock.

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.