Diversified Portfolios Inc. Has $208,000 Stock Position in Eaton Co. plc (NYSE:ETN)

Diversified Portfolios Inc. trimmed its position in Eaton Co. plc (NYSE:ETN) by 21.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 627 shares of the industrial products company’s stock after selling 172 shares during the quarter. Diversified Portfolios Inc.’s holdings in Eaton were worth $208,000 at the end of the most recent quarter.

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

Eaton Price Performance

Shares of NYSE:ETN opened at $361.85 on Friday. The business’s 50 day moving average is $332.81 and its 200-day moving average is $320.84. 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 firm has a market capitalization of $143.00 billion, a PE ratio of 38.49, a PEG ratio of 2.96 and a beta of 1.01. Eaton Co. plc has a 1-year low of $224.52 and a 1-year high of $373.49.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS 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 during the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the firm earned $2.47 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. Sell-side analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given a dividend of $0.94 per share. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.04%. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Insider Activity at Eaton

In other Eaton news, Director Karenann K. Terrell bought 500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were bought at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the acquisition, the director now owns 500 shares of the company’s stock, valued at approximately $149,485. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their position. 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 in the last 90 days. 0.53% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ETN. Bank of America raised their price target on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $374.00 price target on shares of Eaton in a research note on Friday, November 1st. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Morgan Stanley assumed coverage on Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price for the company. Finally, UBS Group started coverage on shares of Eaton in a research report on Wednesday. They issued a “buy” rating and a $431.00 price target on the stock. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average price target of $357.83.

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.