Financial Counselors Inc. Boosts Stock Holdings in Eaton Co. plc (NYSE:ETN)

Financial Counselors Inc. grew its position in Eaton Co. plc (NYSE:ETN) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,663 shares of the industrial products company’s stock after purchasing an additional 2,049 shares during the period. Eaton comprises about 0.9% of Financial Counselors Inc.’s portfolio, making the stock its 28th largest position. Financial Counselors Inc.’s holdings in Eaton were worth $60,542,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ETN. Strategic Wealth Partners Ltd. lifted its position in shares of Eaton by 8.7% during the 1st quarter. Strategic Wealth Partners Ltd. now owns 1,002 shares of the industrial products company’s stock worth $313,000 after buying an additional 80 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Eaton during the first quarter valued at approximately $66,000. Sanibel Captiva Trust Company Inc. lifted its holdings in Eaton by 7.4% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 5,125 shares of the industrial products company’s stock worth $1,602,000 after acquiring an additional 351 shares during the period. Beck Bode LLC purchased a new position in Eaton in the first quarter worth $10,091,000. Finally, FSA Advisors Inc. bought a new position in Eaton in the 1st quarter valued at $284,000. 82.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dorothy C. Thompson purchased 2,205 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the purchase, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 66,981 shares of company stock worth $24,100,317 in the last ninety days. 0.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ETN shares. Citigroup initiated coverage on Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 target price on the stock. Raymond James dropped their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Mizuho raised their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Morgan Stanley started coverage on Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective on the stock. Finally, Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $357.83.

Eaton Trading Down 1.4 %

Shares of ETN opened at $371.97 on Thursday. Eaton Co. plc has a twelve month low of $224.52 and a twelve month high of $379.99. The stock has a market cap of $147.00 billion, a PE ratio of 39.57, a P/E/G ratio of 2.99 and a beta of 1.01. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The business’s 50-day moving average price is $346.61 and its 200-day moving average price is $323.89.

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

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s payout ratio is 40.00%.

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.