Lifeworks Advisors LLC Raises Stock Position in Eaton Co. plc (NYSE:ETN)

Lifeworks Advisors LLC lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 22.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,016 shares of the industrial products company’s stock after buying an additional 1,653 shares during the quarter. Lifeworks Advisors LLC’s holdings in Eaton were worth $2,988,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ETN. Metis Global Partners LLC increased its holdings in shares of Eaton by 0.3% in the 3rd quarter. Metis Global Partners LLC now owns 15,605 shares of the industrial products company’s stock valued at $5,172,000 after acquiring an additional 50 shares during the period. Curi RMB Capital LLC grew its stake in shares of Eaton by 36.7% during the 3rd quarter. Curi RMB Capital LLC now owns 4,380 shares of the industrial products company’s stock worth $1,452,000 after purchasing an additional 1,176 shares during the period. Zions Bancorporation N.A. grew its stake in shares of Eaton by 3.5% during the 3rd quarter. Zions Bancorporation N.A. now owns 15,852 shares of the industrial products company’s stock worth $5,254,000 after purchasing an additional 535 shares during the period. KBC Group NV grew its stake in shares of Eaton by 89.8% during the 3rd quarter. KBC Group NV now owns 57,044 shares of the industrial products company’s stock worth $18,906,000 after purchasing an additional 26,995 shares during the period. Finally, Bouvel Investment Partners LLC boosted its position in shares of Eaton by 0.6% in the 3rd quarter. Bouvel Investment Partners LLC now owns 14,679 shares of the industrial products company’s stock worth $4,865,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In related news, Director Karenann K. Terrell acquired 500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was purchased at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the purchase, the director now directly owns 500 shares of the company’s stock, valued at $149,485. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Eaton news, Director Karenann K. Terrell bought 500 shares of the stock in a transaction dated 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 completion of the purchase, the director now owns 500 shares in the company, valued at $149,485. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was 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 $662,161.50. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 68,705 shares of company stock valued at $24,516,346. 0.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on ETN. Barclays decreased their price objective on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Raymond James dropped their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Royal Bank of Canada reissued an “outperform” rating and set a $374.00 target price on shares of Eaton in a research report on Friday, November 1st. UBS Group assumed coverage on shares of Eaton in a research report on Wednesday. They issued a “buy” rating and a $431.00 price objective for the company. Finally, Mizuho increased their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $357.83.

Eaton Stock Down 0.9 %

Shares of ETN traded down $3.33 during midday trading on Thursday, reaching $366.33. 167,480 shares of the stock were exchanged, compared to its average volume of 2,104,765. Eaton Co. plc has a 12-month low of $224.52 and a 12-month high of $373.49. The firm has a 50 day simple moving average of $332.81 and a 200-day simple moving average of $320.84. 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 has a market cap of $144.77 billion, a price-to-earnings ratio of 39.35, a P/E/G ratio of 2.96 and a beta of 1.01.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the business earned $2.47 EPS. Research analysts forecast that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Dividend Announcement

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 issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Monday, November 4th. Eaton’s payout ratio 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.