Rational Advisors LLC increased its stake in Eaton Co. PLC (NYSE:ETN) by 1,006.3% during the third quarter, HoldingsChannel.com reports. The fund owned 18,873 shares of the industrial products company’s stock after buying an additional 17,167 shares during the period. Rational Advisors LLC’s holdings in Eaton were worth $1,637,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ETN. Cornerstone Wealth Management LLC lifted its stake in shares of Eaton by 8,005.4% in the second quarter. Cornerstone Wealth Management LLC now owns 234,004 shares of the industrial products company’s stock worth $3,123,000 after acquiring an additional 231,117 shares during the period. Nikko Asset Management Americas Inc. acquired a new position in shares of Eaton in the second quarter worth approximately $4,366,000. Sumitomo Life Insurance Co. lifted its stake in shares of Eaton by 14.5% in the second quarter. Sumitomo Life Insurance Co. now owns 36,936 shares of the industrial products company’s stock worth $2,761,000 after acquiring an additional 4,685 shares during the period. Delta Asset Management LLC TN lifted its stake in shares of Eaton by 1.0% in the second quarter. Delta Asset Management LLC TN now owns 103,478 shares of the industrial products company’s stock worth $7,734,000 after acquiring an additional 1,012 shares during the period. Finally, BerganKDV Wealth Management LLC lifted its stake in shares of Eaton by 76.8% in the second quarter. BerganKDV Wealth Management LLC now owns 21,936 shares of the industrial products company’s stock worth $1,639,000 after acquiring an additional 9,527 shares during the period. 77.64% of the stock is currently owned by institutional investors.

Shares of ETN opened at $74.24 on Monday. Eaton Co. PLC has a 52-week low of $67.70 and a 52-week high of $89.85. The company has a current ratio of 1.49, a quick ratio of 0.96 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $32.18 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 1.35 and a beta of 1.49.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.43. Eaton had a return on equity of 13.48% and a net margin of 10.06%. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same period in the previous year, the firm earned $1.25 earnings per share. The company’s revenue was up 3.9% compared to the same quarter last year. Equities analysts predict that Eaton Co. PLC will post 5.35 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 16th. Shareholders of record on Friday, November 2nd were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.56%. The ex-dividend date was Thursday, November 1st. Eaton’s dividend payout ratio (DPR) is presently 56.77%.

In other Eaton news, insider Richard H. Fearon sold 25,000 shares of the business’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 transaction, the insider now directly owns 221,459 shares of the company’s stock, valued at $18,445,320.11. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, the insider now directly owns 24,715 shares in the company, valued at $2,050,850.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,000 shares of company stock worth $4,617,645. Insiders own 0.50% of the company’s stock.

A number of research firms recently commented on ETN. Barclays lifted their price objective on Eaton from $71.00 to $77.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 1st. Royal Bank of Canada reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Eaton in a research note on Tuesday, July 31st. Wells Fargo & Co reaffirmed a “buy” rating on shares of Eaton in a research note on Wednesday, September 26th. Citigroup cut their price objective on Eaton from $92.00 to $88.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Finally, Deutsche Bank lifted their price objective on Eaton from $92.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, August 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $86.12.

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About Eaton

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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