Eaton Co. plc (NYSE:ETN) Stock Holdings Lifted by Avalon Global Asset Management LLC

Avalon Global Asset Management LLC increased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 49.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,100 shares of the industrial products company’s stock after acquiring an additional 15,000 shares during the quarter. Eaton makes up approximately 2.2% of Avalon Global Asset Management LLC’s holdings, making the stock its 15th biggest holding. Avalon Global Asset Management LLC’s holdings in Eaton were worth $14,948,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of ETN. Breakwater Investment Management lifted its holdings in shares of Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares during the last quarter. Proffitt & Goodson Inc. bought a new stake in Eaton in the second quarter valued at $29,000. LGT Financial Advisors LLC acquired a new position in shares of Eaton during the second quarter valued at $33,000. West Financial Advisors LLC bought a new position in shares of Eaton during the third quarter worth about $35,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in Eaton in the 2nd quarter valued at about $37,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. UBS Group started coverage on Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Barclays reduced their price target on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and raised their price target for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Finally, Sanford C. Bernstein began coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Four equities research 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.com, Eaton presently has an average rating of “Moderate Buy” and a consensus target price of $357.83.

Insider Transactions at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 stock was acquired at an average price of $300.30 per share, with a total value of $662,161.50. Following the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 66,981 shares of company stock valued at $24,100,317 over the last ninety days. Corporate insiders own 0.53% of the company’s stock.

Eaton Trading Up 0.9 %

Eaton stock opened at $375.42 on Monday. The firm has a market cap of $148.37 billion, a price-to-earnings ratio of 39.94, a price-to-earnings-growth ratio of 2.84 and a beta of 1.01. Eaton Co. plc has a 1 year low of $224.61 and a 1 year high of $379.99. The firm’s 50 day moving average price is $348.37 and its two-hundred day moving average price is $324.41. 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 issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the previous year, the firm posted $2.47 EPS. The company’s quarterly revenue was up 7.9% on a year-over-year basis. On average, research analysts predict that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Monday, November 4th. Eaton’s payout ratio is 40.00%.

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.