Eaton Co. plc (NYSE:ETN) Shares Purchased by Cynosure Group LLC

Cynosure Group LLC grew its holdings in Eaton Co. plc (NYSE:ETN) by 7.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,430 shares of the industrial products company’s stock after acquiring an additional 176 shares during the period. Cynosure Group LLC’s holdings in Eaton were worth $805,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Bayesian Capital Management LP acquired a new position in shares of Eaton in the 1st quarter valued at about $600,000. Beacon Capital Management LLC raised its position in shares of Eaton by 81.4% during the 1st quarter. Beacon Capital Management LLC now owns 214 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 96 shares during the period. Advisory Resource Group lifted its holdings in shares of Eaton by 4.0% in the 1st quarter. Advisory Resource Group now owns 4,105 shares of the industrial products company’s stock worth $1,284,000 after purchasing an additional 156 shares during the last quarter. Pacific Center for Financial Services acquired a new position in Eaton during the 1st quarter valued at approximately $585,000. Finally, Strategic Wealth Partners Ltd. grew its stake in Eaton by 8.7% during the 1st quarter. Strategic Wealth Partners Ltd. now owns 1,002 shares of the industrial products company’s stock worth $313,000 after buying an additional 80 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Raymond James reduced their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Wells Fargo & Company upped 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. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and increased their price objective for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Morgan Stanley began coverage on Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 target price on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $374.00 target price on shares of Eaton in a research 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $357.83.

Eaton Stock Performance

Shares of ETN stock opened at $377.23 on Wednesday. The company has a market capitalization of $149.08 billion, a price-to-earnings ratio of 40.13, a P/E/G ratio of 2.99 and a beta of 1.01. Eaton Co. plc has a 1-year low of $224.52 and a 1-year high of $379.99. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The stock’s fifty day simple moving average is $345.46 and its 200-day simple moving average is $323.55.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the firm posted $2.47 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were issued 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 yield of 1.00%. Eaton’s dividend payout ratio is currently 40.00%.

Insider Activity at Eaton

In other news, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the purchase, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now directly owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,117 shares of company stock valued at $25,050,901. 0.33% of the stock is currently 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.