Signature Estate & Investment Advisors LLC Has $3 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Signature Estate & Investment Advisors LLC boosted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,044 shares of the industrial products company’s stock after buying an additional 254 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Eaton were worth $2,998,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Strategic Wealth Partners Ltd. raised its holdings in shares of Eaton by 3.0% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after buying an additional 30 shares in the last quarter. Fairfield Financial Advisors LTD grew its holdings in shares of Eaton by 16.2% in the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 30 shares during the last quarter. Legacy Capital Group California Inc. increased its position in shares of Eaton by 1.2% during the 2nd quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock worth $870,000 after purchasing an additional 32 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in Eaton by 2.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock valued at $513,000 after purchasing an additional 32 shares during the last quarter. Finally, Well Done LLC grew its position in Eaton by 1.3% during the 2nd quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock worth $800,000 after acquiring an additional 33 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Eaton

In other news, Director Karenann K. Terrell acquired 500 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were acquired at an average cost of $298.97 per share, with a total value of $149,485.00. Following the transaction, the director now owns 500 shares in the company, valued at $149,485. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 68,705 shares of company stock worth $24,516,346 in the last 90 days. Company insiders own 0.53% of the company’s stock.

Eaton Stock Down 2.1 %

ETN stock opened at $361.85 on Friday. Eaton Co. plc has a fifty-two week low of $224.52 and a fifty-two week high of $373.49. The stock has a fifty day moving average of $332.81 and a 200-day moving average of $320.84. The company has a market capitalization of $143.00 billion, a price-to-earnings ratio of 38.49, a PEG ratio of 2.96 and a beta of 1.01. 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 quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the company earned $2.47 earnings per share. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is 40.00%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ETN. Citigroup began coverage on shares of Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective for the company. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and boosted their target price for the stock from $333.00 to $389.00 in a research report on Wednesday. Sanford C. Bernstein began coverage on shares of Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price for the company. Wells Fargo & Company upped their price objective on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Raymond James decreased their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $357.83.

Eaton Company 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.