Aptus Capital Advisors LLC Raises Stock Holdings in Eaton Co. plc (NYSE:ETN)

Aptus Capital Advisors LLC grew its holdings in Eaton Co. plc (NYSE:ETN) by 20.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,562 shares of the industrial products company’s stock after buying an additional 5,639 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Eaton were worth $10,792,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Breakwater Investment Management raised its holdings in shares of Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 78 shares during the last quarter. Proffitt & Goodson Inc. acquired a new position in Eaton in the 2nd quarter valued at $29,000. LGT Financial Advisors LLC purchased a new position in Eaton in the 2nd quarter valued at $33,000. West Financial Advisors LLC acquired a new stake in Eaton during the 3rd quarter worth $35,000. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in shares of Eaton during the second quarter worth $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the sale, the insider now owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 117,745 shares of company stock valued at $39,278,367 in the last 90 days. 0.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of recent research reports. Barclays lowered their price target 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, November 1st. Evercore ISI cut their price target on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Sanford C. Bernstein began coverage on Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective on the stock. Mizuho upped their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $374.00 target price on shares of Eaton in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $343.28.

Eaton Price Performance

Shares of ETN stock traded down $4.25 during midday trading on Tuesday, reaching $367.70. 342,863 shares of the company traded hands, compared to its average volume of 2,107,879. The firm has a market cap of $145.32 billion, a PE ratio of 39.57, a price-to-earnings-growth ratio of 2.94 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The firm’s 50 day simple moving average is $329.60 and its two-hundred day simple moving average is $320.18. Eaton Co. plc has a 1-year low of $220.24 and a 1-year high of $373.49.

Eaton (NYSE:ETN) last posted its 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 for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Eaton’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.47 earnings per share. On average, equities research analysts expect that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders 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 1.02%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s payout ratio is 40.00%.

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.