7,415 Shares in Eaton Co. PLC (ETN) Acquired by Stevens First Principles Investment Advisors

Stevens First Principles Investment Advisors acquired a new position in shares of Eaton Co. PLC (NYSE:ETN) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,415 shares of the industrial products company’s stock, valued at approximately $643,000.

Other large investors have also added to or reduced their stakes in the company. Pegasus Asset Management Inc. lifted its holdings in shares of Eaton by 2.3% in the 2nd quarter. Pegasus Asset Management Inc. now owns 28,030 shares of the industrial products company’s stock valued at $2,095,000 after purchasing an additional 643 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Eaton by 5.4% in the 2nd quarter. Bessemer Group Inc. now owns 12,819 shares of the industrial products company’s stock valued at $958,000 after purchasing an additional 651 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. Capital City Trust Co. FL lifted its holdings in shares of Eaton by 4.0% in the 2nd quarter. Capital City Trust Co. FL now owns 17,914 shares of the industrial products company’s stock valued at $1,339,000 after purchasing an additional 693 shares during the last quarter. Finally, Andesa Financial Management Inc. lifted its holdings in shares of Eaton by 3.5% in the 2nd quarter. Andesa Financial Management Inc. now owns 21,750 shares of the industrial products company’s stock valued at $1,623,000 after purchasing an additional 740 shares during the last quarter. 77.29% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently weighed in on ETN shares. Morgan Stanley reduced their target price on Eaton from $94.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, October 31st. Credit Suisse Group reduced their target price on Eaton from $91.00 to $85.00 and set an “outperform” rating for the company in a report on Wednesday, October 31st. 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. Deutsche Bank reduced their target price on Eaton from $102.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, October 31st. Finally, 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. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $86.12.

In other news, insider Richard H. Fearon sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $83.29, for a total transaction of $2,082,250.00. Following the completion of the transaction, the insider now directly owns 221,459 shares of the company’s stock, valued at approximately $18,445,320.11. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Revathi Advaithi sold 15,500 shares of the 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 of the company’s stock, valued at $2,050,850.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,000 shares of company stock valued at $4,617,645. Company insiders own 0.50% of the company’s stock.

ETN opened at $74.24 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.49 and a debt-to-equity ratio of 0.40. The company has a market cap of $32.63 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 1.37 and a beta of 1.49. Eaton Co. PLC has a 52 week low of $67.70 and a 52 week high of $89.85.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Friday, November 2nd will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Thursday, November 1st. Eaton’s dividend payout ratio (DPR) is 56.77%.

ILLEGAL ACTIVITY NOTICE: “7,415 Shares in Eaton Co. PLC (ETN) Acquired by Stevens First Principles Investment Advisors” was originally reported by WKRB News and is owned by of WKRB News. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://www.wkrb13.com/2018/11/09/7415-shares-in-eaton-co-plc-etn-acquired-by-stevens-first-principles-investment-advisors.html.

Eaton 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.

Further Reading: Do You Need a Fiduciary?

Institutional Ownership by Quarter for Eaton (NYSE:ETN)

Receive News & Ratings for Eaton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply