Hilltop Holdings Inc. Purchases 13,725 Shares of Eaton Co. plc (NYSE:ETN)

Hilltop Holdings Inc. increased its position in Eaton Co. plc (NYSE:ETN) by 125.8% during the third quarter, Holdings Channel reports. The firm owned 24,635 shares of the industrial products company’s stock after buying an additional 13,725 shares during the quarter. Hilltop Holdings Inc.’s holdings in Eaton were worth $8,165,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Breakwater Investment Management lifted its position in shares of 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 buying an additional 78 shares during the last quarter. Proffitt & Goodson Inc. acquired a new stake in Eaton during the 2nd quarter valued at $29,000. LGT Financial Advisors LLC bought a new position in Eaton during the second quarter worth $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton in the third quarter valued at $35,000. Finally, DT Investment Partners LLC acquired a new stake in shares of Eaton during the 3rd quarter worth about $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Price Performance

Shares of NYSE ETN opened at $377.90 on Monday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 1-year low of $224.61 and a 1-year high of $379.99. The firm’s 50-day moving average price is $348.37 and its 200-day moving average price is $324.41. The firm has a market capitalization of $149.35 billion, a P/E ratio of 39.94, a P/E/G ratio of 2.84 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, topping the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the company posted $2.47 earnings per share. Eaton’s revenue was up 7.9% compared to the same quarter last year. Equities research analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.99%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Sanford C. Bernstein began coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target on the stock. Wells Fargo & Company upped their target price on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Raymond James dropped their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $374.00 price objective on shares of Eaton in a report on Friday, November 1st. Finally, Citigroup started coverage on Eaton in a report on Monday, September 16th. They set a “buy” rating and a $348.00 target price for the company. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus target price of $357.83.

Insider Buying and Selling at Eaton

In other Eaton news, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,981 shares of company stock valued at $24,100,317 in the last quarter. 0.53% of the stock is currently owned by corporate insiders.

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.