IFG Advisory LLC Has $1.18 Million Holdings in Eaton Co. PLC (ETN)

IFG Advisory LLC grew its position in Eaton Co. PLC (NYSE:ETN) by 6.6% during the 3rd quarter, Holdings Channel reports. The firm owned 13,623 shares of the industrial products company’s stock after purchasing an additional 843 shares during the period. IFG Advisory LLC’s holdings in Eaton were worth $1,181,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pegasus Asset Management Inc. grew its holdings in shares of Eaton by 2.3% during the second quarter. Pegasus Asset Management Inc. now owns 28,030 shares of the industrial products company’s stock valued at $2,095,000 after buying an additional 643 shares during the last quarter. Bessemer Group Inc. lifted its position in Eaton by 5.4% during the second 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 period. World Asset Management Inc lifted its position in Eaton by 2.5% during the second 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 period. Capital City Trust Co. FL lifted its position in Eaton by 4.0% during the second 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 period. Finally, Andesa Financial Management Inc. lifted its position in Eaton by 3.5% during the second 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 period. 77.29% of the stock is currently owned by hedge funds and other institutional investors.

ETN has been the subject of a number of research reports. Morgan Stanley decreased their target price on shares of Eaton from $94.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, October 31st. Credit Suisse Group decreased their target price on shares of Eaton from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday, October 31st. UBS Group upgraded shares of 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 research report on Friday, September 21st. Deutsche Bank decreased their target price on shares of Eaton from $102.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, October 31st. Finally, Zacks Investment Research upgraded shares of Eaton from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research report on Monday, August 6th. Two 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. Eaton presently has a consensus rating of “Buy” and an average target price of $86.12.

In other Eaton news, Director Deborah L. Mccoy sold 3,000 shares of the company’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $84.55, for a total value of $253,650.00. Following the completion of the transaction, the director now owns 32,936 shares in the company, valued at $2,784,738.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Richard H. Fearon sold 25,000 shares of the company’s stock in a transaction dated 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 owns 221,459 shares of the company’s stock, valued at approximately $18,445,320.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,000 shares of company stock valued at $4,617,645. Insiders own 0.50% of the company’s stock.

Shares of Eaton stock opened at $74.24 on Friday. The stock has a market capitalization of $32.63 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.37 and a beta of 1.49. Eaton Co. PLC has a fifty-two week low of $67.70 and a fifty-two week high of $89.85. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.49 and a quick ratio of 0.96.

Eaton (NYSE:ETN) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $5.49 billion. Eaton had a net margin of 10.06% and a return on equity of 13.48%. 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 earnings per share. On average, sell-side analysts predict that Eaton Co. PLC will post 5.35 earnings per share for the current year.

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

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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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