J. W. Coons Advisors LLC Grows Position in Eaton Co. plc (NYSE:ETN)

J. W. Coons Advisors LLC grew its position in shares of Eaton Co. plc (NYSE:ETN) by 0.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 12,645 shares of the industrial products company’s stock after buying an additional 78 shares during the period. Eaton comprises approximately 1.0% of J. W. Coons Advisors LLC’s portfolio, making the stock its 24th biggest holding. J. W. Coons Advisors LLC’s holdings in Eaton were worth $4,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in ETN. Strategic Wealth Partners Ltd. boosted its stake in shares of Eaton by 3.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after acquiring an additional 30 shares during the last quarter. Fairfield Financial Advisors LTD grew its holdings in shares of Eaton by 16.2% during the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after buying an additional 30 shares in the last quarter. Legacy Capital Group California Inc. raised its position in shares of Eaton by 1.2% in the second quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock valued at $870,000 after buying an additional 32 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Eaton by 2.1% in the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock worth $513,000 after buying an additional 32 shares in the last quarter. Finally, Well Done LLC boosted its position in Eaton by 1.3% during the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock worth $800,000 after acquiring an additional 33 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eaton

In other news, Director Karenann K. Terrell acquired 500 shares of the company’s 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 completion of the acquisition, the director now 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Dorothy C. Thompson bought 2,205 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 68,705 shares of company stock worth $24,516,346. 0.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ETN shares. Raymond James reduced their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Bank of America lifted their price target on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $374.00 price objective on shares of Eaton in a report on Friday, November 1st. Evercore ISI downgraded shares of Eaton from an “outperform” rating to an “inline” rating and lifted their target price for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Finally, Sanford C. Bernstein initiated coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target for the company. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average target price of $357.83.

Eaton Stock Down 0.8 %

Shares of Eaton stock opened at $358.99 on Monday. Eaton Co. plc has a 52-week low of $224.52 and a 52-week high of $373.49. The company has a 50 day moving average of $335.82 and a 200 day moving average of $321.44. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $141.87 billion, a P/E ratio of 38.19, a P/E/G ratio of 2.85 and a beta of 1.01.

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

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.05%. Eaton’s payout ratio is currently 40.00%.

About Eaton

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.