Boston Family Office LLC Acquires 1,539 Shares of Eaton Co. plc (NYSE:ETN)

Boston Family Office LLC increased its holdings in Eaton Co. plc (NYSE:ETN) by 4.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 38,566 shares of the industrial products company’s stock after buying an additional 1,539 shares during the period. Boston Family Office LLC’s holdings in Eaton were worth $12,782,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. DRW Securities LLC bought a new stake in Eaton in the third quarter worth $1,506,000. Bedell Frazier Investment Counselling LLC increased its position in Eaton by 4.5% during the third quarter. Bedell Frazier Investment Counselling LLC now owns 2,661 shares of the industrial products company’s stock valued at $882,000 after acquiring an additional 115 shares during the last quarter. Independent Advisor Alliance increased its position in Eaton by 27.0% during the third quarter. Independent Advisor Alliance now owns 33,861 shares of the industrial products company’s stock valued at $11,223,000 after acquiring an additional 7,197 shares during the last quarter. Prosperity Financial Group Inc. grew its holdings in shares of Eaton by 150.8% in the third quarter. Prosperity Financial Group Inc. now owns 3,310 shares of the industrial products company’s stock worth $1,097,000 after purchasing an additional 1,990 shares during the last quarter. Finally, Bank of Hawaii grew its holdings in shares of Eaton by 1.2% in the third quarter. Bank of Hawaii now owns 5,922 shares of the industrial products company’s stock worth $1,963,000 after purchasing an additional 69 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of research analyst reports. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Barclays cut their price target on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Sanford C. Bernstein initiated coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and upped their price objective for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Finally, Citigroup initiated coverage on shares of Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $357.83.

Insider Activity at Eaton

In related news, Director Dorothy C. Thompson acquired 2,205 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Yelton sold 3,136 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the transaction, the insider now owns 3,914 shares in the company, valued at approximately $1,186,411.68. This trade represents a 44.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,705 shares of company stock valued at $24,516,346 in the last three months. 0.33% of the stock is owned by insiders.

Eaton Stock Performance

ETN stock opened at $377.41 on Monday. The firm has a market cap of $149.15 billion, a price-to-earnings ratio of 40.15, a PEG ratio of 2.99 and a beta of 1.01. The firm has a 50-day simple moving average of $342.75 and a two-hundred day simple moving average of $322.91. Eaton Co. plc has a one year low of $224.52 and a one year high of $378.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. Eaton’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm posted $2.47 EPS. On average, equities analysts forecast that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Monday, November 4th. Eaton’s payout ratio is currently 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.