Vaughan Nelson Investment Management L.P. Invests $137.79 Million in Eaton Co. plc (NYSE:ETN)

Vaughan Nelson Investment Management L.P. bought a new stake in Eaton Co. plc (NYSE:ETN) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 415,743 shares of the industrial products company’s stock, valued at approximately $137,794,000. Eaton accounts for 1.2% of Vaughan Nelson Investment Management L.P.’s investment portfolio, making the stock its 24th largest holding. Vaughan Nelson Investment Management L.P. owned about 0.11% of Eaton at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ETN. Breakwater Investment Management increased its stake in shares of Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after buying an additional 78 shares during the period. Proffitt & Goodson Inc. purchased a new stake in shares of Eaton in the 2nd quarter valued at approximately $29,000. LGT Financial Advisors LLC purchased a new stake in shares of Eaton in the 2nd quarter valued at approximately $33,000. West Financial Advisors LLC purchased a new stake in shares of Eaton during the 3rd quarter worth $35,000. Finally, DiNuzzo Private Wealth Inc. acquired a new position in shares of Eaton during the second quarter worth $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Craig Arnold sold 61,569 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the transaction, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. This represents a 10.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Karenann K. Terrell acquired 500 shares of the stock in a transaction dated Wednesday, August 21st. The shares were bought at an average cost of $298.97 per share, with a total value of $149,485.00. Following the completion of the purchase, the director now directly owns 500 shares in the company, valued at approximately $149,485. 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 sold 68,705 shares of company stock worth $24,516,346. Insiders own 0.53% of the company’s stock.

Eaton Stock Down 0.8 %

ETN stock opened at $358.99 on Friday. The stock has a market capitalization of $141.87 billion, a PE ratio of 38.19, a price-to-earnings-growth ratio of 2.96 and a beta of 1.01. The company has a fifty day moving average of $335.82 and a 200-day moving average of $321.37. 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 Co. plc has a one year low of $224.52 and a one year high of $373.49.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the previous year, the company earned $2.47 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, analysts expect that Eaton Co. plc will post 10.79 EPS for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.05%. Eaton’s dividend payout ratio (DPR) is currently 40.00%.

Analysts Set New Price Targets

A number of research firms have recently commented on ETN. Raymond James dropped their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Morgan Stanley assumed coverage on shares of Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target on the stock. Citigroup began coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $374.00 target price on shares of Eaton in a research report on Friday, November 1st. Finally, Barclays reduced their price target on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $357.83.

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.