Eaton Co. PLC (ETN) Position Boosted by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its holdings in Eaton Co. PLC (NYSE:ETN) by 25.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,461 shares of the industrial products company’s stock after purchasing an additional 1,120 shares during the period. Park Avenue Securities LLC’s holdings in Eaton were worth $478,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Chicago Partners Investment Group LLC boosted its holdings in Eaton by 101.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,043 shares of the industrial products company’s stock worth $145,000 after buying an additional 1,029 shares during the last quarter. IFG Advisory LLC boosted its holdings in Eaton by 6.6% in the 3rd quarter. IFG Advisory LLC now owns 13,623 shares of the industrial products company’s stock worth $1,181,000 after buying an additional 843 shares during the last quarter. FTB Advisors Inc. boosted its holdings in Eaton by 6.0% in the 3rd quarter. FTB Advisors Inc. now owns 42,369 shares of the industrial products company’s stock worth $5,031,000 after buying an additional 2,416 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Eaton by 2.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 280,656 shares of the industrial products company’s stock worth $24,341,000 after buying an additional 5,975 shares during the last quarter. Finally, Lipe & Dalton boosted its holdings in Eaton by 302.1% in the 3rd quarter. Lipe & Dalton now owns 20,287 shares of the industrial products company’s stock worth $1,759,000 after buying an additional 15,242 shares during the last quarter. Hedge funds and other institutional investors own 77.29% of the company’s stock.

In related news, insider Richard H. Fearon sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $83.29, for a total value of $2,082,250.00. Following the transaction, the insider now directly owns 221,459 shares in the company, valued at $18,445,320.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ken D. Semelsberger sold 11,500 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $86.57, for a total value of $995,555.00. Following the completion of the transaction, the insider now owns 78,883 shares in the company, valued at $6,828,901.31. The disclosure for this sale can be found here. Insiders sold 55,000 shares of company stock worth $4,617,645 over the last quarter. 0.50% of the stock is currently owned by insiders.

Several equities research analysts recently issued reports on the company. UBS Group upgraded Eaton from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $91.00 to $100.00 in a report on Friday, September 21st. Wells Fargo & Co restated a “buy” rating on shares of Eaton in a report on Wednesday, September 26th. Deutsche Bank boosted their target price on Eaton from $95.00 to $102.00 and gave the stock a “buy” rating in a report on Friday, September 28th. Barclays boosted their target price on Eaton from $71.00 to $77.00 and gave the stock an “underweight” rating in a report on Wednesday, August 1st. Finally, Royal Bank of Canada restated a “hold” rating and set a $80.00 target price on shares of Eaton in a report on Tuesday, July 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $86.12.

Shares of Eaton stock opened at $74.24 on Friday. The company has a market cap of $32.63 billion, a PE ratio of 15.97, a P/E/G ratio of 1.37 and a beta of 1.49. Eaton Co. PLC has a 1-year low of $67.70 and a 1-year high of $89.85. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.96 and a current ratio of 1.49.

Eaton (NYSE:ETN) last issued its earnings results on Tuesday, October 30th. The industrial products company reported $1.43 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.43. Eaton had a return on equity of 13.48% and a net margin of 10.06%. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same period in the previous year, the firm posted $1.25 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, analysts expect that Eaton Co. PLC will post 5.35 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Friday, November 2nd will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Thursday, November 1st. Eaton’s dividend payout ratio is presently 56.77%.

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Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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