BluePath Capital Management LLC Acquires 755 Shares of Eaton Co. plc (NYSE:ETN)

BluePath Capital Management LLC boosted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 34.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,955 shares of the industrial products company’s stock after acquiring an additional 755 shares during the quarter. BluePath Capital Management LLC’s holdings in Eaton were worth $979,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ETN. Silvant Capital Management LLC boosted its stake in shares of Eaton by 58.2% in the 3rd quarter. Silvant Capital Management LLC now owns 17,097 shares of the industrial products company’s stock valued at $5,667,000 after purchasing an additional 6,290 shares during the last quarter. James Investment Research Inc. boosted its stake in shares of Eaton by 0.7% in the 3rd quarter. James Investment Research Inc. now owns 27,338 shares of the industrial products company’s stock valued at $9,061,000 after purchasing an additional 182 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of Eaton by 100.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 3,078 shares of the industrial products company’s stock valued at $1,062,000 after purchasing an additional 1,546 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Eaton by 4.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,268 shares of the industrial products company’s stock valued at $2,740,000 after purchasing an additional 389 shares during the last quarter. Finally, Capital Advisors Inc. OK boosted its stake in shares of Eaton by 2.4% in the 3rd quarter. Capital Advisors Inc. OK now owns 70,491 shares of the industrial products company’s stock valued at $23,364,000 after purchasing an additional 1,629 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

ETN opened at $335.00 on Friday. The firm has a market cap of $133.36 billion, a P/E ratio of 36.85, a PEG ratio of 2.62 and a beta of 1.02. The firm has a 50-day moving average of $323.09 and a 200 day moving average of $318.29. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. Eaton Co. plc has a fifty-two week low of $211.99 and a fifty-two week high of $349.74.

Eaton (NYSE:ETN) last posted its quarterly 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 company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.47 earnings per share. On average, research analysts expect that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be given 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 1.12%. Eaton’s dividend payout ratio is presently 41.36%.

Insiders Place Their Bets

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares in the company, valued at $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the transaction, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the transaction, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,511 shares of company stock worth $15,809,326 over the last quarter. 0.53% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ETN. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Raymond James reduced their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Jefferies Financial Group boosted their target price on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Barclays dropped their target price on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Wells Fargo & Company boosted their target price on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and a consensus target price of $341.00.

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.