Larson Financial Group LLC Raises Position in Eaton Co. plc (NYSE:ETN)

Larson Financial Group LLC boosted its position in Eaton Co. plc (NYSE:ETN) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,606 shares of the industrial products company’s stock after purchasing an additional 482 shares during the period. Larson Financial Group LLC’s holdings in Eaton were worth $4,509,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ETN. Breakwater Investment Management grew its stake in shares of 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 period. Proffitt & Goodson Inc. bought a new position in Eaton during the second quarter worth about $29,000. LGT Financial Advisors LLC purchased a new position in shares of Eaton in the second quarter worth about $33,000. West Financial Advisors LLC bought a new stake in shares of Eaton in the third quarter valued at approximately $35,000. Finally, DT Investment Partners LLC purchased a new stake in shares of Eaton during the 3rd quarter valued at approximately $37,000. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Craig Arnold sold 61,569 shares of the stock in a transaction dated 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 in the company, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Yelton sold 3,136 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the transaction, the insider now owns 3,914 shares in the company, valued at approximately $1,186,411.68. This represents a 44.48 % 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 worth $24,516,346 in the last ninety days. 0.53% of the stock is owned by insiders.

Eaton Stock Performance

NYSE:ETN opened at $377.41 on Friday. Eaton Co. plc has a 1-year low of $224.52 and a 1-year high of $378.00. 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 business has a 50 day moving average of $342.75 and a 200 day moving average of $322.97. The company has a market capitalization of $149.15 billion, a price-to-earnings ratio of 40.15, a PEG ratio of 2.94 and a beta of 1.01.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.47 EPS. On average, sell-side analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ETN shares. Barclays reduced their price objective on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Morgan Stanley initiated coverage on Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective on the stock. Raymond James reduced their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and increased their price target for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Finally, Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $357.83.

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.