Bouvel Investment Partners LLC Buys 85 Shares of Eaton Co. plc (NYSE:ETN)

Bouvel Investment Partners LLC raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 0.6% in the third quarter, Holdings Channel reports. The fund owned 14,679 shares of the industrial products company’s stock after acquiring an additional 85 shares during the period. Eaton comprises approximately 1.8% of Bouvel Investment Partners LLC’s holdings, making the stock its 18th biggest position. Bouvel Investment Partners LLC’s holdings in Eaton were worth $4,865,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Breakwater Investment Management grew its position in Eaton by 1,560.0% during the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 78 shares during the last quarter. Proffitt & Goodson Inc. bought a new stake in shares of Eaton during the second quarter worth $29,000. LGT Financial Advisors LLC bought a new stake in shares of Eaton during the second quarter worth $33,000. West Financial Advisors LLC bought a new position in shares of Eaton in the third quarter valued at about $35,000. Finally, DT Investment Partners LLC acquired a new position in Eaton during the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other news, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the transaction, the insider now owns 3,914 shares in the company, valued at $1,186,411.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Eaton news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Yelton sold 3,136 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the transaction, the insider now directly owns 3,914 shares of the company’s stock, valued at $1,186,411.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,705 shares of company stock valued at $24,516,346 over the last 90 days. 0.53% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on ETN. Mizuho raised their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Bank of America upped their price objective on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays lowered their target price on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $374.00 price target on shares of Eaton in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $357.83.

Eaton Stock Performance

Shares of NYSE:ETN opened at $369.88 on Thursday. The company has a market capitalization of $146.18 billion, a price-to-earnings ratio of 39.35, a P/E/G ratio of 2.96 and a beta of 1.01. The firm’s 50 day simple moving average is $331.19 and its 200 day simple moving average is $320.50. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. Eaton Co. plc has a fifty-two week low of $223.87 and a fifty-two week high of $373.49.

Eaton (NYSE:ETN) last announced 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. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same period last year, the firm posted $2.47 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a $0.94 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.02%. Eaton’s dividend payout ratio (DPR) is currently 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.