Eaton Co. plc (NYSE:ETN) Stock Holdings Lifted by Joseph Group Capital Management

Joseph Group Capital Management grew its position in shares of Eaton Co. plc (NYSE:ETN) by 27.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,849 shares of the industrial products company’s stock after buying an additional 2,782 shares during the quarter. Eaton makes up about 1.6% of Joseph Group Capital Management’s investment portfolio, making the stock its 12th largest holding. Joseph Group Capital Management’s holdings in Eaton were worth $4,259,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ETN. CANADA LIFE ASSURANCE Co raised its holdings in shares of Eaton by 13.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 305,105 shares of the industrial products company’s stock valued at $95,408,000 after purchasing an additional 37,134 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Eaton in the first quarter worth about $11,256,000. Ossiam boosted its stake in shares of Eaton by 19,824.0% during the 1st quarter. Ossiam now owns 101,214 shares of the industrial products company’s stock worth $31,648,000 after acquiring an additional 100,706 shares in the last quarter. MQS Management LLC acquired a new position in shares of Eaton during the 1st quarter valued at about $207,000. Finally, Burns Matteson Capital Management LLC raised its stake in shares of Eaton by 2.6% in the 1st quarter. Burns Matteson Capital Management LLC now owns 2,892 shares of the industrial products company’s stock valued at $904,000 after acquiring an additional 72 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Down 0.3 %

Shares of NYSE ETN opened at $357.83 on Tuesday. The business has a fifty day moving average of $337.19 and a two-hundred day moving average of $321.74. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton Co. plc has a 52-week low of $224.52 and a 52-week high of $373.49. The stock has a market cap of $141.41 billion, a PE ratio of 38.07, a PEG ratio of 2.85 and a beta of 1.01.

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, beating the consensus estimate of $2.80 by $0.04. The firm 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 firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm posted $2.47 EPS. As a group, equities research analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently issued reports on ETN shares. UBS Group assumed coverage on shares of Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective for the company. Citigroup began coverage on shares of Eaton in a report on Monday, September 16th. They set a “buy” rating and a $348.00 price target for the company. Raymond James dropped their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Mizuho raised their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and upped their price target for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $357.83.

Insider Transactions at Eaton

In other news, Director Karenann K. Terrell purchased 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the acquisition, the director now directly owns 500 shares in the company, valued at approximately $149,485. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Yelton sold 3,136 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the transaction, the insider now directly owns 3,914 shares in the company, valued at approximately $1,186,411.68. This trade represents a 44.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,705 shares of company stock worth $24,516,346. Insiders own 0.53% of the company’s stock.

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.