Charles Schwab Investment Management Inc. Acquires 3,528 Shares of Eaton Co. plc (NYSE:ETN)

Charles Schwab Investment Management Inc. raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 0.2% during the 3rd quarter, Holdings Channel reports. The fund owned 2,218,428 shares of the industrial products company’s stock after purchasing an additional 3,528 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Eaton were worth $735,276,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ETN. L & S Advisors Inc boosted its position in Eaton by 34.8% during the third quarter. L & S Advisors Inc now owns 37,728 shares of the industrial products company’s stock valued at $12,505,000 after purchasing an additional 9,744 shares in the last quarter. Smithfield Trust Co lifted its position in shares of Eaton by 0.6% during the third quarter. Smithfield Trust Co now owns 5,390 shares of the industrial products company’s stock valued at $1,789,000 after buying an additional 33 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Eaton by 2.3% in the 3rd quarter. LPL Financial LLC now owns 488,214 shares of the industrial products company’s stock valued at $161,814,000 after buying an additional 10,939 shares in the last quarter. Cypress Capital Group raised its stake in shares of Eaton by 7.0% during the 3rd quarter. Cypress Capital Group now owns 10,629 shares of the industrial products company’s stock worth $3,523,000 after acquiring an additional 697 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Eaton by 777.0% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 303,932 shares of the industrial products company’s stock valued at $100,735,000 after acquiring an additional 269,276 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Eaton

In other Eaton news, insider Michael Yelton sold 3,136 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. This trade represents a 44.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dorothy C. Thompson bought 2,205 shares of Eaton stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 68,705 shares of company stock worth $24,516,346. 0.53% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ETN shares. Raymond James reduced their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and upped their target price for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Mizuho raised their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Sanford C. Bernstein assumed coverage on shares of Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average price target of $357.83.

Eaton Price Performance

NYSE:ETN opened at $371.08 on Friday. The firm’s fifty day moving average is $341.32 and its two-hundred day moving average is $322.65. The firm has a market cap of $146.65 billion, a price-to-earnings ratio of 39.48, a PEG ratio of 2.89 and a beta of 1.01. Eaton Co. plc has a one year low of $224.52 and a one year high of $373.49. 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 posted its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period last year, the company earned $2.47 earnings per share. Eaton’s revenue for the quarter was up 7.9% compared to the same quarter last year. Research analysts expect that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Monday, November 4th. Eaton’s dividend 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.