Eaton Co. plc (NYSE:ETN) Stock Position Raised by Altrius Capital Management Inc

Altrius Capital Management Inc grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 3.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 27,474 shares of the industrial products company’s stock after buying an additional 907 shares during the period. Eaton comprises 2.3% of Altrius Capital Management Inc’s portfolio, making the stock its 2nd biggest holding. Altrius Capital Management Inc’s holdings in Eaton were worth $9,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ETN. Breakwater Investment Management increased its stake in Eaton by 1,560.0% in the second 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 during the last quarter. Proffitt & Goodson Inc. purchased a new stake in Eaton during the second quarter valued at about $29,000. LGT Financial Advisors LLC purchased a new stake in Eaton during the second quarter valued at about $33,000. West Financial Advisors LLC purchased a new stake in Eaton during the third quarter valued at about $35,000. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in shares of Eaton during the second quarter worth about $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other Eaton news, Director Karenann K. Terrell bought 500 shares of the stock in a transaction on Wednesday, August 21st. The shares were bought at an average price of $298.97 per share, with a total value of $149,485.00. Following the purchase, the director now directly owns 500 shares in the company, valued at $149,485. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,705 shares of company stock valued at $24,516,346 in the last three months. 0.53% of the stock is currently owned by corporate insiders.

Eaton Stock Performance

ETN traded down $2.16 during trading on Friday, reaching $359.70. 454,535 shares of the company’s stock were exchanged, compared to its average volume of 2,104,761. Eaton Co. plc has a 1 year low of $224.52 and a 1 year high of $373.49. 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 stock has a market capitalization of $142.15 billion, a P/E ratio of 38.34, a price-to-earnings-growth ratio of 2.96 and a beta of 1.01. The company’s fifty day simple moving average is $334.34 and its 200-day simple moving average is $321.13.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.47 EPS. As a group, research analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is 40.00%.

Analyst Ratings Changes

ETN has been the subject of a number of analyst reports. Bank of America increased their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday. Sanford C. Bernstein began coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $374.00 target price on shares of Eaton in a research note on Friday, November 1st. Finally, Mizuho raised their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company 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.