Eaton Co. plc (NYSE:ETN) Shares Purchased by Milestones Administradora de Recursos Ltda.

Milestones Administradora de Recursos Ltda. raised its holdings in Eaton Co. plc (NYSE:ETNFree Report) by 318.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,546 shares of the industrial products company’s stock after buying an additional 17,920 shares during the period. Eaton comprises about 3.1% of Milestones Administradora de Recursos Ltda.’s holdings, making the stock its 9th largest position. Milestones Administradora de Recursos Ltda.’s holdings in Eaton were worth $7,804,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Strategic Wealth Partners Ltd. boosted its holdings in Eaton by 3.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 30 shares in the last quarter. Legacy Capital Group California Inc. increased its stake in Eaton by 1.2% in the 2nd quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock valued at $870,000 after buying an additional 32 shares during the period. Well Done LLC raised its position in Eaton by 1.3% during the 2nd quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock worth $800,000 after buying an additional 33 shares during the last quarter. J.W. Cole Advisors Inc. lifted its stake in shares of Eaton by 1.7% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 2,053 shares of the industrial products company’s stock worth $644,000 after acquiring an additional 35 shares during the period. Finally, Front Row Advisors LLC boosted its holdings in shares of Eaton by 0.4% in the second quarter. Front Row Advisors LLC now owns 7,842 shares of the industrial products company’s stock valued at $2,459,000 after acquiring an additional 35 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Eaton

In other Eaton news, Director Karenann K. Terrell purchased 500 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was bought at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the acquisition, the director now owns 500 shares of the company’s stock, valued at approximately $149,485. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Dorothy C. Thompson purchased 2,205 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karenann K. Terrell acquired 500 shares of the stock in a transaction dated 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 purchase, the director now directly owns 500 shares in the company, valued at approximately $149,485. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 52,511 shares of company stock valued at $15,809,326. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ETN. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Royal Bank of Canada reduced their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Morgan Stanley began coverage on Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Jefferies Financial Group increased their price target on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $340.06.

View Our Latest Analysis on Eaton

Eaton Price Performance

NYSE:ETN traded down $0.68 during trading hours on Wednesday, reaching $344.87. 416,870 shares of the company traded hands, compared to its average volume of 2,088,547. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. The firm’s 50-day moving average is $320.85 and its 200-day moving average is $317.88. The stock has a market cap of $137.29 billion, a P/E ratio of 38.01, a P/E/G ratio of 2.62 and a beta of 1.02. Eaton Co. plc has a 1-year low of $198.68 and a 1-year high of $349.74.

Eaton (NYSE:ETNGet Free Report) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Equities research analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be given a $0.94 dividend. 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%.

Eaton Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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