Eaton Co. plc (NYSE:ETN) Shares Bought by Cerity Partners LLC

Cerity Partners LLC lifted its position in shares of Eaton Co. plc (NYSE:ETN) by 30.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,319 shares of the industrial products company’s stock after acquiring an additional 25,434 shares during the quarter. Cerity Partners LLC’s holdings in Eaton were worth $36,564,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Great Valley Advisor Group Inc. boosted its stake in shares of Eaton by 92.7% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,433 shares of the industrial products company’s stock worth $2,795,000 after acquiring an additional 4,056 shares in the last quarter. Nicolet Advisory Services LLC boosted its stake in shares of Eaton by 17.4% during the 3rd quarter. Nicolet Advisory Services LLC now owns 9,581 shares of the industrial products company’s stock worth $3,133,000 after acquiring an additional 1,421 shares in the last quarter. Meridian Wealth Management LLC boosted its stake in shares of Eaton by 16.4% during the 3rd quarter. Meridian Wealth Management LLC now owns 2,005 shares of the industrial products company’s stock worth $665,000 after acquiring an additional 283 shares in the last quarter. Nwam LLC purchased a new stake in shares of Eaton during the 3rd quarter worth about $1,750,000. Finally, Icon Wealth Advisors LLC boosted its stake in shares of Eaton by 1,675.6% during the 3rd quarter. Icon Wealth Advisors LLC now owns 251,848 shares of the industrial products company’s stock worth $83,473,000 after acquiring an additional 237,664 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Up 1.7 %

Shares of NYSE ETN opened at $377.41 on Friday. The company has a 50 day simple moving average of $342.75 and a 200-day simple moving average of $322.97. The company has a market capitalization of $149.15 billion, a P/E ratio of 40.15, a P/E/G ratio of 2.94 and a beta of 1.01. 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 1 year low of $224.52 and a 1 year high of $378.00.

Eaton (NYSE:ETN) last announced 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 the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.47 EPS. On average, equities research 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 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 annualized dividend and a yield of 1.00%. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Insider Activity at Eaton

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,705 shares of company stock worth $24,516,346. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

ETN has been the topic of a number of research reports. 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 research note on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $374.00 price target on shares of Eaton in a research note on Friday, November 1st. Citigroup initiated coverage on shares of Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 price target on the stock. UBS Group initiated coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target on the stock. Finally, Morgan Stanley initiated coverage on shares of Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.