Park Edge Advisors LLC Purchases 1,188 Shares of Eaton Co. plc (NYSE:ETN)

Park Edge Advisors LLC boosted its position in Eaton Co. plc (NYSE:ETN) by 42.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,978 shares of the industrial products company’s stock after acquiring an additional 1,188 shares during the period. Park Edge Advisors LLC’s holdings in Eaton were worth $1,318,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ETN. Brookstone Capital Management boosted its stake in Eaton by 15.5% in the 1st quarter. Brookstone Capital Management now owns 1,375 shares of the industrial products company’s stock worth $430,000 after purchasing an additional 185 shares during the period. Capital Asset Advisory Services LLC bought a new stake in Eaton during the 1st quarter worth approximately $215,000. Hennion & Walsh Asset Management Inc. lifted its stake in Eaton by 36.0% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 1,450 shares of the industrial products company’s stock worth $453,000 after purchasing an additional 384 shares in the last quarter. Vicus Capital bought a new position in Eaton in the 1st quarter valued at $395,000. Finally, Symphony Financial Ltd. Co. grew its position in shares of Eaton by 3.8% during the 1st quarter. Symphony Financial Ltd. Co. now owns 1,589 shares of the industrial products company’s stock valued at $497,000 after purchasing an additional 58 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Eaton

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Eaton news, Director Karenann K. Terrell bought 500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were purchased at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the acquisition, the director now owns 500 shares in the company, valued at approximately $149,485. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction dated Monday, August 12th. The stock was 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 of the company’s stock, valued at approximately $2,858,328. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,511 shares of company stock worth $15,809,326 over the last quarter. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ETN shares. Citigroup assumed coverage on Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 price objective for the company. Morgan Stanley assumed coverage on Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective for the company. Barclays raised their target price on shares of Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Mizuho raised their price objective on shares of Eaton from $355.00 to $365.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and a consensus price target of $340.06.

Eaton Trading Down 0.2 %

NYSE:ETN traded down $0.80 during midday trading on Friday, reaching $344.49. 1,176,378 shares of the stock traded hands, compared to its average volume of 1,416,014. The stock has a market capitalization of $137.14 billion, a P/E ratio of 37.90, a PEG ratio of 2.62 and a beta of 1.02. Eaton Co. plc has a 12 month low of $193.77 and a 12 month high of $349.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. The company has a fifty day moving average of $318.89 and a 200 day moving average of $317.47.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. On average, research analysts predict that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors 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 1.09%. The ex-dividend date is Monday, November 4th. Eaton’s payout ratio is 41.36%.

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.