Global Financial Private Capital LLC purchased a new position in shares of Eaton Co. PLC (NYSE:ETN) in the third quarter, Holdings Channel reports. The firm purchased 2,494 shares of the industrial products company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ETN. Capital One National Association lifted its holdings in Eaton by 40.6% during the 2nd quarter. Capital One National Association now owns 15,548 shares of the industrial products company’s stock worth $1,162,000 after buying an additional 4,490 shares during the last quarter. Calamos Advisors LLC lifted its holdings in shares of Eaton by 2.8% in the 2nd quarter. Calamos Advisors LLC now owns 242,660 shares of the industrial products company’s stock valued at $18,136,000 after purchasing an additional 6,610 shares during the last quarter. World Asset Management Inc lifted its holdings in shares of Eaton by 2.5% in the 2nd quarter. World Asset Management Inc now owns 27,989 shares of the industrial products company’s stock valued at $2,092,000 after purchasing an additional 672 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Eaton by 26.0% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 31,450 shares of the industrial products company’s stock valued at $2,351,000 after purchasing an additional 6,480 shares during the last quarter. Finally, Exane Derivatives lifted its holdings in shares of Eaton by 3,162,200.0% in the 2nd quarter. Exane Derivatives now owns 31,623 shares of the industrial products company’s stock valued at $2,363,000 after purchasing an additional 31,622 shares during the last quarter. 78.44% of the stock is owned by institutional investors.

Several analysts have recently weighed in on ETN shares. Deutsche Bank boosted their target price on Eaton from $92.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, August 16th. Zacks Investment Research raised Eaton from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a report on Monday, August 6th. Wells Fargo & Co set a $92.00 target price on Eaton and gave the company a “buy” rating in a report on Wednesday, August 1st. UBS Group raised Eaton from a “neutral” rating to a “buy” rating and boosted their target price for the company from $91.00 to $100.00 in a report on Friday, September 21st. Finally, Citigroup reduced their target price on Eaton from $92.00 to $88.00 and set a “buy” rating for the company in a report on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $86.12.

NYSE ETN opened at $73.98 on Friday. The company has a market cap of $31.34 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 1.32 and a beta of 1.49. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.96 and a current ratio of 1.49. Eaton Co. PLC has a 12-month low of $67.70 and a 12-month high of $89.85.

Eaton (NYSE:ETN) last released its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $1.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.43. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.49 billion. Eaton had a return on equity of 13.48% and a net margin of 10.06%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 EPS. As a group, equities research analysts forecast that Eaton Co. PLC will post 5.35 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Friday, November 2nd will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Thursday, November 1st. Eaton’s dividend payout ratio is currently 56.77%.

In related news, insider Revathi Advaithi sold 15,500 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $82.98, for a total value of $1,286,190.00. Following the sale, the insider now owns 24,715 shares in the company, valued at approximately $2,050,850.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Richard H. Fearon sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $83.29, for a total value of $2,082,250.00. Following the completion of the sale, the insider now owns 221,459 shares in the company, valued at approximately $18,445,320.11. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,000 shares of company stock worth $4,617,645. Insiders own 0.50% of the company’s stock.

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Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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