Eaton Co. plc (NYSE:ETN) Shares Acquired by Raymond James Trust N.A.

Raymond James Trust N.A. raised its position in shares of Eaton Co. plc (NYSE:ETN) by 1.8% in the third quarter, HoldingsChannel reports. The firm owned 75,503 shares of the industrial products company’s stock after acquiring an additional 1,307 shares during the period. Raymond James Trust N.A.’s holdings in Eaton were worth $25,025,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Breakwater Investment Management boosted its position in shares of Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after buying an additional 78 shares during the period. Proffitt & Goodson Inc. bought a new stake in Eaton during the 2nd quarter valued at $29,000. LGT Financial Advisors LLC acquired a new position in Eaton during the 2nd quarter worth $33,000. West Financial Advisors LLC bought a new position in shares of Eaton in the third quarter worth $35,000. Finally, DiNuzzo Private Wealth Inc. acquired a new position in shares of Eaton during the second quarter valued at $37,000. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Bank of America increased their target price 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. Morgan Stanley began 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. Raymond James dropped their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Mizuho increased their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Barclays cut their price objective on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $357.83.

Insider Activity at Eaton

In related news, Director Dorothy C. Thompson acquired 2,205 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, with a total value of $662,161.50. Following the purchase, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,705 shares of company stock valued at $24,516,346. 0.53% of the stock is currently owned by corporate insiders.

Eaton Stock Up 2.9 %

ETN stock opened at $371.08 on Friday. The company’s 50 day simple moving average is $341.32 and its 200-day simple moving average is $322.65. Eaton Co. plc has a 52-week low of $224.52 and a 52-week high of $373.49. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The firm has a market capitalization of $146.65 billion, a P/E ratio of 39.48, a P/E/G ratio of 2.89 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.47 earnings per share. As a group, equities research analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders 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 1.01%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

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.