Verus Capital Partners LLC Buys 55 Shares of Eaton Co. plc (NYSE:ETN)

Verus Capital Partners LLC lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 3.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,710 shares of the industrial products company’s stock after acquiring an additional 55 shares during the period. Verus Capital Partners LLC’s holdings in Eaton were worth $567,000 as of its most recent SEC filing.

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

Eaton Price Performance

Eaton stock opened at $369.05 on Wednesday. The business has a 50 day simple moving average of $329.60 and a 200 day simple moving average of $320.18. Eaton Co. plc has a one year low of $220.24 and a one year high of $373.49. The company has a market capitalization of $145.85 billion, a PE ratio of 39.26, a price-to-earnings-growth ratio of 2.94 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00.

Eaton (NYSE:ETN) last released its quarterly earnings results 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 firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period last year, the firm posted $2.47 EPS. The business’s revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts forecast that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors 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 dividend on an annualized basis and a yield of 1.02%. Eaton’s dividend payout ratio is 40.00%.

Insider Activity at Eaton

In related news, insider Michael Yelton sold 3,136 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at $1,186,411.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of Eaton stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the sale, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 117,745 shares of company stock valued at $39,278,367 in the last three months. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ETN. Evercore ISI lowered their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Raymond James reduced their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Mizuho raised their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Barclays reduced their price objective 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. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $343.28.

Eaton 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.