Eaton Co. plc (NYSE:ETN) Shares Acquired by Leavell Investment Management Inc.

Leavell Investment Management Inc. boosted its stake in Eaton Co. plc (NYSE:ETN) by 23.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 10,600 shares of the industrial products company’s stock after acquiring an additional 2,044 shares during the quarter. Leavell Investment Management Inc.’s holdings in Eaton were worth $3,513,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc grew its position in shares of Eaton by 0.6% in the second quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock valued at $1,005,317,000 after purchasing an additional 18,077 shares during the period. Capital World Investors lifted its stake in Eaton by 323.8% in the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after buying an additional 2,439,270 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Eaton by 15.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock worth $412,108,000 after buying an additional 176,571 shares during the last quarter. International Assets Investment Management LLC increased its stake in Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after buying an additional 1,070,024 shares in the last quarter. Finally, National Pension Service raised its holdings in shares of Eaton by 13.0% during the third quarter. National Pension Service now owns 865,820 shares of the industrial products company’s stock valued at $286,967,000 after acquiring an additional 99,381 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the sale, the insider now owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Eaton news, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 118,080 shares of company stock worth $39,375,088 in the last three months. 0.33% of the stock is owned by company insiders.

Eaton Stock Up 1.7 %

Shares of ETN opened at $366.77 on Friday. The company’s 50-day moving average price is $328.30 and its 200 day moving average price is $319.74. Eaton Co. plc has a 12-month low of $217.61 and a 12-month high of $369.29. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a market cap of $144.95 billion, a P/E ratio of 39.02, a price-to-earnings-growth ratio of 2.66 and a beta of 1.01.

Eaton (NYSE:ETN) last issued its quarterly earnings data 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 net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period in the prior year, the business posted $2.47 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, sell-side analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be issued a $0.94 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.03%. Eaton’s dividend payout ratio is presently 40.00%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ETN. Raymond James lowered their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Wells Fargo & Company increased their target price on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Citigroup initiated coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price target on the stock. Finally, Mizuho increased their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and a consensus target price of $343.28.

About Eaton

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.